Trading in the local bourse carried on last week’s bearish performances as the All Share Index (ASI) declined by 0.3 per cent to close at 51,390.25 basis points.

Having resumed from the Muslim Sallah break on Wednesday, at the Nigerian Exchange Limited (NGX), sell-offs in BUA Cement and Access Corporation undermined the market’s performance after their share respective share values depreciated by 3.6 per cent and 2.1 per cent.Accordingly, the Month-to-Date and Year-to-Date returns printed -0.8 per cent and +20.3 per cent, respectively.

According to data from the local bourse, equities investors, therefore, lost N90 billion at the end of the trading activities on Wednesday as the market capitalisation settled at N27.713 trillion as against an opening of N27.803 trillion.

As measured by market breadth, market sentiment was negative as 23 tickers lost relative to 11 gainers. On the performance board, Multiverse and Red Star Express recorded the most significant losses of the day as their respective share values depreciated 10.0 per cent and 9.8 per cent, while CWG and Caverton topped the gainers’ list after appreciating in share values by 10.0 per cent and 9.8 per cent, respectively.

Sectorial performance was weak at the end of trading activities as the NGX Insurance index, NGX Oil/Gas and the NGX Industrial index fell by 2.96 per cent, 0.04 per cent and 0.01 per cent respectively, while the NGX Banking and the NGX Consumer Goods index rose by 0.05 per cent and 0.31 per cent respectively.

However, market activity was strong today, as the volume of stocks traded rose by 72.69 per cent to 198.82 million units, while the value of stocks traded increased by 22.65 per cent to N2.18 billion.

Guaranty Trust Holding Company (GTCO) dominated the volume charts as the top traded stock by volume for the trading session, followed by Japaul Gold, United Bank for Africa (UBA), Jaiz Bank and International Breweries.

With regards to the value of traded stocks, GTCO also took the lead of the top five performers, flanked by UBA, Presco, MTN Nigeria and Zenith Bank.

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