Profit-taking on large and medium capitalized stocks continued on the Nigerian equity market, pushing it down for the second consecutive trading session on Wednesday.
Losses by MTNN, ACCESS and 15 other stocks caused the bourse’s All-Share Index (ASI) to decline by 220.65 absolute points, representing 0.75 per cent dip to close at 29,062.50 points, Market Capitalization shed N113.82 billion, representing an decrease of 0.75 per cent to close at N14.99 trillion.
Beta Glass added 10 per cent to top 10 other gainers, while Livestock shed -9.09 per cent to emerge top loser among 16 others.
Morison was the most active stock in volume term, having traded 127.8 million units worth N57.05 million, Zenith Bank, on the other hand, was the most active with regards to value, having traded 31.55 million unit valued at ₦674.03million.
The volume and valued traded stocks by investors were lower dropped by 49 per cent and 60 per cent respectively to 339million units and ₦2.62billion.
The Healthcare and Industrial Goods sectors were the only gainers, appreciating 1.72 per cent and 0.11 per cent respectively on the back of price gains by GLAXOSMITH (7.14 per cent) and BETAGLAS (10.0 0 per cent). On the flipside, the ICT, Consumer Goods and Bank sectors declined by 2.98 per cent, 0.20 per cent and 0.17 per cent due to price depreciation i n MTNN (-2.98 per cent), DANGSUGAR (-2.03 per cent) and ACCESS BANK (-2.86 per cent).