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Following sell-offs in the shares of ETI, MTNN and Access Bank, investors trading on the floor of the Nigerian Stock Exchange (NSE) lost a total value of N114 billion at the close of transactions on Wednesday.
Consequently, the All Share Index (ASI) shed 0.75 per cent to 29,062.50 points as market capitalisation declined to N14.992 trillion while year-to-date (YTD) slipped to -8.3 per cent.
Furthermore, activity level dipped as volume and value traded pared 46.0 and 56.5 per cent to 360.1 million units and N2.8 billion respectively, exchanged in 4,345 deals.
The top traded stocks by volume were Morison (126.8 million units), Access Bank (52.5 million units) and UBA (32.0 million units) while Zenith Bank (N674.0 million), Access Bank (N536.6 million) and BUA cement (N444.2 million) led by value.
The bearish sector performance continued as all indices under our coverage lost save the Insurance index which gained 0.3 per cent due to buying interest in Chip Plc (+2.6 per cent). Price declines in MTNN (-3.0 per cent) and MEYER (-8.0 per cent) pulled the AFR-ICT and Industrial Goods indices down 1.7 and 1.3 per cent respectively.
