The Nigerian Exchange Ltd. closed trading on Wednesday on a negative note, due to price depreciation posted by Tier-one bank stocks and some others.
Consequently, the All-Share Index declined by 1,167.46 or 1.4 per cent to close at 82,024.28, as against 83,191.84 recorded on Tuesday.
Similarly, the overall market capitalisation which opened at ₦45.523 trillion dipped ₦638 billion or 1.4 per cent to close at ₦44.885 trillion.
The market loss was driven by losses in MTN Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO) among others.
However, the Year-To-Date (YTD) return rose by 9.7 per cent.
The market breadth closed negative, as 50 equities traded on the loser’s table, and 11 others on the gainer’s.
On the laggard’s chart, Caverton, Chams, May Baker, FTN Cocoa Processors and Consolidated Hallmark Insurance declined in percentage terms of 10, to close at ₦2.07, ₦2.16, N5.49, ₦1.98, N1.35k respectively.
Conversely, Cadbury led the leader’s chart by a 9.92 per cent gain to close at ₦19.95 per share.
Veritas Kapital followed, appreciating by 9.76 per cent to close at 45k, while Linkage Assurance grew by 8.70 per cent to close at ₦1.50k per share.
Transcorp Hotel trailed by 7.24 per cent to close at ₦100, while Prestige gained ₦6 to close at 53k per share.
A total of 1.64 billion shares valued at ₦25.38 billion were exchanged in 20,223 deals.
Transactions in the shares of Transcorp topped the activity chart with 117.64 million shares valued at ₦1.54 billion.
Access Holdings followed by 116.64 million shares traded at ₦3.26 billion.
Also, Sterling Bank transacted 116.29 million worth ₦774.99 million, while Jaiz Bank sold 100.7 million shares valued at ₦282.65 million.
AIICO Insurance garnered 91.79 million shares and traded at ₦127.86 million.