Nigerian equity market declined for the third consecutive trading days on Wednesday, driven by losses suffered by Airtel Africa, Dangote Cement, 20 other stocks.
NGX All-Share Index plunged by 577.19 absolute points, representing a decline of 1.48% to close at 38,446.09 points while the market capitalization lost N301 billion to close at N20.04 trillion as the loss so far this year worsened to -4.5%.
SEPLAT and MRS emerged as top of the 5 gainers, appreciating by 10.00% while AIRTELAFRICA and CILEASING emerged as the top loser (by percentage points) with depreciation of -10.00%.
The volume of equities traded declined by 24.9% to 153.6 million units while value traded increased by 32.9% to ₦2.4billion.
The most traded stocks by volume were UACN (10.0m units), ZENITH (9.6m units), and FIDELITY (8.7m units) while SEPLAT (₦1.1bn), ZENITH (₦222.8m), and WAPCO (₦111.8m) led by value.
The AFR-ICT index led the laggards, down 5.2% due to sell-pressure on AIRTELAF (-10.0%) and the Banking and Insurance indices fell by 0.6% apiece on the back of price depreciation in ZENITH (-2.1%), GUARANTY (-0.5%), CUSTODIAN (-2.5%), and AIICO (-3.1%).
Also, the Consumer Goods index also lost, down 32bps following sell-offs in DANGSUGAR (-3.9%), and INTBREW (-0.9%).
However, the Oil & Gas and Industrial Goods indices rose by 7.1% and 0.9% respectively as a result of buying interest in SEPLAT (+10.0%), MRS (+10.0%), and DANGCEM (+0.5%).
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