By Chinyere Joel-Nwokeoma
Lagos – The Nigerian equities market on Wednesday declined further by 0.35 per cent, amid sustained bearish transactions.
The All Share Index (ASI) decreased by 93.23 points or 0.35 per cent to close at 26,790.10 compared with 26,883.33 achieved on Tuesday.
Similarly, the market capitalisation shed N45 billion or 0.35 per cent to close at N12.930 trillion in contrast with N12. 975 trillion on Tuesday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: Cadbury Nigeria, GlaxoSmithKline Consumer Nigeria, FBN Holdings, Dangote Cement and UACN.
The market recorded 19 gainers compared with 26 losers, with AG Leventis & Company and Livestock Feeds emerging the highest price gainers with 10 per cent, each to close at 33k and 55k, respectively.
Neimeth followed with a gain 8.96 per cent to close at 73k per share.
Wapic Insurance rose by 8.57 per cent to close at 38k, while Cutix appreciated by 8.27 per cent to close at N1.44 per share.
Conversely, Consolidated Hallmark Insurance led the laggards’ chart in percentage, dropping by 10 per cent, to close at 36k per share.
GlaxoSmithKline followed with a decline of 9.52 per cent to close at N5.70, while Oando dipped by 9.09 per cent to close at N3.50 per share.
Union Diagnostic dipped 8.33 per cent to close at 22k, while Cadbury Nigeria lost 8.16 per cent to close at N9 per share.
Similarly, the volume of shares traded closed lower with an exchange of 189.86 million shares worth N1.48 billion accounted in 3,410 deals.
This was against a turnover of 209.97 million shares valued at N3.10 billion Traded in 4,081 deals on Tuesday.
Transcorp dominated the activity chart with 26.35 million shares worth N26.58 million.
Zenith Bank came second with 22.51 million shares valued at N416.44 million, while Chams sold 18.92 million shares worth N7.84 million.
Fidelity Bank traded 11.11 million shares valued at N22.20 million, while FBN Holdings sold 10.53 million shares worth N69.998 million.