The domestic stock market continued its downward trend from the previous session yesterday, resulting in a N268 billion decline in total capitalization.
As a result, the All Share Index (ASI) closed at 98,228.50 points, down 475.18 points or 0.48 percent. In addition, the market capitalization decreased by N268 billion, ending at N55.555 trillion.
Losses in medium- and large-cap equities contributed to the slump; they include NASCON Allied Industries, Dangote Sugar Refinery, FBN Holdings (FBNH), Guaranty Trust Holding Company (GTCO), and Transnational Corporations (Transcorp).
Additionally, as 28 equities fell and 15 climbed, the market breadth indicator of investor sentiment closed negative. The companies with the largest percentage price gains were Japaul Gold & Ventures, May & Baker Nigeria, and Presco, which closed at N2.09, N6.60, and N291.50 per share, respectively.
Wema Bank gained 7.28 percent to settle at N8.10 a share, while FTN Cocoa Processors followed with an 8.16 percent gain to close at N1.59.
However, Unity Bank closed at N1.62 per share, leading the losers’ chart by 10%. Champion Breweries dropped by 9.78 percent to settle at N3.32 per share, while FBNH followed with a 9.91 percent decrease apiece to close at N25.45.
Wapic Insurance saw a 9.33% decrease to conclude at 68 kobo per share, while Livestock Feeds saw a 9.71% decline to close at N1.58.
In the meantime, there were 9,620 trades and 425.664 million units sold, worth N8.349 billion, representing a 0.93 percent rise in total volume transacted. United Bank of Africa (UBA) transactions, totaling 102.233 million shares valued at N2.675 billion, led the activity chart. Transcorp exchanged 30.139 million shares valued at N394.749 million, while Access Holdings followed with 49.180 million shares worth N878.406 million.
AIICO Insurance sold 22.648 million shares for N22.779 million, while Japaul Gold & Ventures traded 28.754 million shares valued at N59.060 million.