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Trading on the Nigerian Stock Exchange (NSE) sustained its bearish trend with the 0.44 percent depreciation of the All Share Index (ASI) on Wednesday.
The ASI, benchmark for equities dropped 175.56 index point to stand at 39,522.06 basis point down from 39,697.62 basis point.
Remarkably, the equities market lost N91.855 billion or 0.44 percent to close at N20.678 trillion from the N20.769 trillion the Nigerian bourse commenced the trading session with.
The market turnover increased by 9.8 percent, as investors bought and sold 244.342 million shares valued at N4. 128 billion in 4,714 deals, as against 222. 573 million shares worth N5. 390 billion in 4,470 deals traded the previous day.
The market breadth came out negative with 30 losers compared to 16 gainers, unlike 17 advanced stocks and 26 decliners recorded on Tuesday.
Seplat led the biggest gainers in percentage, rising by 10 percent to close at N583 per share.
AIICO Insurance appreciated by 5.22 percent to close at N1. 21 Kobo per share, while Cornerstone Insurance rose by 5.17 percent to close at 61 Kobo per share.
UAC Property Plc climbed 5 percent to close at 84 Kobo per share, while Curix Plc moved by 4.21 percent to close at N2. 23 Kobo per share.
On the other hand, Japaul Gold Plc dominated the losers’ table in percentage parameters, dipping 10 percent to close at 54 Kobo per share.
Similarly, NEM Insurance fell by 9.91 percent to close at N1. 91 Kobo per share, while Champion Breweries declined by 9.76 percent to close at N1. 85 Kobo per share.
Also, NPF Micro Finance bank and Livestock Feeds shed 9.47 and 8.93 percent to close at N1. 72 Kobo and 51 Kobo per share respectively.
On the market activity chart, for the second consecutive trading sessions, Zenith Bank was the most active and valuable stock, trading at 41.382 million shares valued at N1.060 billion.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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