Down, down goes the market as the equities segment of the Nigerian Stock Exchange fell by N39bn or 0.34 per cent to close at N11.356tn, as against the 0.01 per cent depreciation it suffered on Tuesday to close at N11.395tn.
Similarly, the NSE All-Share Index fell by 113.97 basis points or 0.34 per cent from 33,380.84 basis points to 33,266.87 basis points. The development saw its year-to-date return drop to -4.01 per cent.
A review of the other NSE indices showed that five of them declined, two appreciated, while one – the NSE Alternative Securities Market Index – closed unchanged.
The NSE Insurance Index recorded the biggest drop, shedding 1.5 per cent to close at 143.32 basis points. The NSE Banking Index was down by 0.52 per cent to close at 371.52 basis points, while the NSE 30 Index fell by 0.41 per cent to 1,521.11 basis points.
The NSE Consumer Goods Index declined by 0.3 per cent to close at 843.51 basis points, while the NSE Industrial Index fell marginally by 0.08 per cent to close at 2,223.17 basis points.
The NSE Lotus Islamic Index and the NSE Oil and Gas Index, however, rose marginally by 0.1 per cent and 0.09 per cent to close at 2,201.26 basis points and 366.69 basis points, respectively, while the NSE ASeM Index remained unchanged at 1,213.52 basis points.
Investors exchanged 310.343 million shares valued at N6.119bn in 3,659 deals on Wednesday with only nine stocks recording gains, as against 42 losers.
The gainers were led by Neimeth International Pharmaceuticals Plc and Skye Bank Plc, which rose by 8.21 per cent and 4.94 per cent to close at N1.45 and N2.55 per share, respectively.
University Press Plc topped the losers’ table, shedding 9.23 per cent or 60 kobo to close at N5.90 per share. It was followed by NPF Microfinance Bank, which was down by 6.54 per cent or seven kobo to close at N1 per share.
The Cement Company of Northern Nigeria Plc and Caverton Offshore Support Group Plc followed, losing five per cent each to close at N11.02 and N3.42 per share, respectively.
By Dike Onwuamaeze