Bears persist at the Nigerian Exchange (NGX) as sells-off activities on some bellwethers the overall market on Wednesday.

Profit-taking activities continued in the domestic bourse, as the selloff in Aradel Holdings, Nigerian Breweries, United Bank for Africa and Guaranty Trust Bank drove the All-Share Index lower by 0.4 percent to 138,159.25 basis points having dipped by 0.5 percent, 5.7 percent, 2.0 percent and 1.1 percent, respectively.

Total market capitalization contracted by N394.45 billion to N87.42 trillion.

Consequently, the Month-to-Date and Year-to-Date returns settled lower at -1.5 percent and +34.2 percent, respectively.

Market sentiment remained subdued, as shown by a negative breadth with 14 stocks advancing compared to 43 decliners.

On the performance board, Legend Internet Service and Learn Africa recorded the most significant losses of the day after their respective share prices dipped by 10 percent, while Secure Electronic Technology and John Holt led the gainers after their share prices appreciated by 9.1 percent and 7.9 percent, respectively.

Sectoral performance was broadly negative as the Insurance, Consumer Goods, Banking and Oil & Gas indices declined by 4.5 percent, 1.3 percent, 0.8 percent, 0.9 percent and 0.4 percent, respectively, while the Industrial Goods index advanced by 0.2 percent.

Trading activity presented a mixed picture as the number of deals dropped by 9.43 percent to 28,193, trading value plummeted by 50.52 percent to N19.67 billion, while trading volume increased significantly by 19.34 percent to 482.76 million units.

Access Holdings was the most traded stock by volume at 43.03 million units, while Aradel Holdings was the most traded stock by value at N6.46 billion.

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