The downturn in the Nigerian equity market stretched to the fourth consecutive trading sessions on Wednesday due to persistent sell-pressure on some bellwether stocks.

This caused the All-Share Index (ASI) dipped by 0.92 absolute points, representing a 0.004 per cent decline to close at 24,173.53 points, while the Market Capitalization shed N0.48 billion, representing a contraction of 0.004 per cent to close at N12.61 trillion as the market performance this year extended to -9.9 per cent.

Investors traded 266.1million units of equities, which was 12.5 per cent that the quantity exchanged the previous day, and the value traded rose 15.3 per cent to ₦3.8 billion.

ETERNA rose 8.89 per cent to top eight other gainers, while GLAXOSMITH emerged as the top loser of nine decliners, having shed 9.52 per cent.

The most active stocks by volume were NIGERIAN BREWERIES (52.6m units), MULTIVERSE (50.0m units) and STERLING (29.2m units), while NIGERIAN BREWERIES (₦1.6bn), DANGOTE CEMENT (₦1.3bn) and GTBANK (₦204.9m) led by value.

The Consumer Goods and Oil & Gas sectors were up 0.13 per cent and 0.03 per cent respectively due to to price upticks in NIGERIAN BREWERIES (+0.04 per cent) and ETERNA (+8.6 per cent).

Meanwhile, losses in CHIPLC (-8.2 per cent) and STERLING BANK (-3.4 per cent) dragged the Insurance and Banking indices lower by 0.64 per cent and 0.03 per cent respectively.

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