Equities trading at the Nigerian Exchange Limited (NGX) remained in the negative stance on Wednesday, running into the third bearish trading session of the week as selling pressure on some high capitalised pushes the equities market lower.

The All Share Index (ASI) marginally dipped by 0.07 per cent to stand at 52,721.34 basis points as against a previous close of 52,756.62 basis points.

The bearish outing dragged both the month-to-date and year-to-date performance of the All-Share-Index at 6.21 per cent and 23.42 per cent respectively.

Therefore, investors lost N19 billion in their net worth as the market capitalisation followed suit the direction of the ASI to stand at N28.423 trillion, representing a marginal drop of 0.07 per cent from the N28.442 trillion it stood at the end of the previous trading session.

Bears’ camp maintains grip over the market breadth with 23 counters in the losers’ chart pitted against 21 counters in the gainers’ chart.

On the performance chart, McNicholas gained 9.96 per cent to become the best performing stock in the session, followed by Transcorp Hotels, Champion Breweries, CHI Plc and Multiverse as they populated the top five gainers’ chart.

From the rear of the chart Academy Press, Berger Paints, Neimeth Pharmaceutical, May&Baker and Wema Bank populated the top five losers’ charts.

Sectorial indices closed in a mixed direction with the ASI, with NGX Insurance gaining 0.81 per cent to become the gaining stock, NGX30 losing 0.22 per cent while the NGX ASEM sector closed flat.

Market activity as measured by both volume and value of trades shed weight at the end of the trading session as the daily traded volume stood at 611.974 units, representing a 53.77 per cent downtick from a volume of 1.324 billion units traded in the previous session.

The value of those traded stocks dipped by 3.86 per cent in the session to stand at N7.426 billion as against a value of N7.724 billion recorded in the previous trading session.

FBN Holdings dominated the volume charts as the top traded stock by volume for the trading session. This is followed by Jaiz Bank, Guaranty Trust Holding Company, FCMB Group and Transcorp to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, FBN Holdings took the lead among the top five performers. It is flanked by Guaranty Trust Holding Company, MTN Nigeria, Seplat, and lastly Presco.

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