Nigerian equity market goes bearish, loses 0.16%

FELIX OLOYEDE

The Nigerian equity market closed negative on Wednesday, underpinned on sell pressure in Oil & Gas, Industrial and Consumer goods sectors.

The All Share Index (ASI) declined by 51.92 absolute points, representing a decrease of 0.16 per cent, to close at 32,121.74 points, while Market Capitalization shed N19.36 billion representing a dip of 0.16 per cent, to close at N11.98 trillion.

Consolidated Hallmark Insurance emerged the top gainer, having added 7.89 per cent to seven other advancers, while McNichols shed 10 per cent to top 19 other losers.

All the indices were bearish, except the Banking and Insurances sectors, which gained 0.03 per cent and 0.02 per cent respectively on Wednesday.

A total of 208.6 million shares worth N2.78 billion exchanged hands with Zenith Bank emerging most active with investors exchanging 45.37 million of its shares valued at N1.11 billion.

The bourse has gained 2.2 per cent this year, having shed 15.74 per cent last year.