Transactions on the Nigerian Stock Exchange (NSE) took a negative turn on Wednesday, with the market reversing previous gains. The All-Share Index (ASI) fell by 0.29%, losing 301.64 points to close at 102,836.13 points, down from 103,137.99 points in the previous session. The market capitalization also dropped by N185 billion, settling at N63.147 trillion.
Trading Activity and Market Sentiment
A total of 394,815,193 shares were traded across 10,766 deals, valued at N15.16 billion. The day’s trading data revealed a 10% decline in trading volume, a 75% improvement in turnover, and an 18% decrease in the number of deals compared to the previous session. Despite the overall market decline, the market breadth ended flat, with an equal number of gainers and losers. A total of 24 stocks gained, while 24 stocks saw their prices fall, indicating a mixed sentiment among investors.
Top Gainers and Losers
SCOA led the gainers, with a 9.70% rise, moving from N2.99 to N3.28. It was followed by Cadbury, which gained 9.65%, increasing from N22.80 to N25.00. Secure Electronic Technology saw a 9.59% rise, from N0.73 to N0.80, while C&I Leasing Plc gained 5.85%, rising from N4.10 to N4.34. FTN Cocoa Processors also saw a 5.41% increase, moving from N1.85 to N1.95.
On the losing side, Multiverse Mining & Exploration recorded the largest loss, dropping 9.87% from N11.15 to N10.05. Maybank followed with a 9.78% decrease, falling from N9.20 to N8.30. Prestige saw a 7.69% drop, from N1.43 to N1.32, while Guinea Insurance lost 7.45%, falling from N0.94 to N0.87. Red Star Express completed the list of top losers with a 4.75% decline, dropping from N5.05 to N4.81.
Leading Stocks by Volume and Value
In terms of volume, Access Holdings led the pack with 91,991,825 shares traded, valued at N2.24 billion. UBA followed with 27,006,478 shares, worth N919.31 million, while Sterling Bank traded 22,971,132 shares valued at N124.14 million. Aiico Insurance recorded 17,917,935 shares traded, valued at N31.69 million, and Zenith Bank had 16,981,467 shares traded, valued at N802.24 million.
Geregu topped the list of stocks with the highest value, recording 5,002,611 shares traded, valued at N5.18 billion. Access Holdings also featured prominently, with a trading value of N2.24 billion from 91,991,825 shares. Aradel followed with 2,244,596 shares valued at N1.22 billion.
Sector Performance
Other indices on the NSE showed mixed performances. The Banking Index posted a year-to-date (YTD) gain of 3.89%. In contrast, the Oil & Gas Index and the Industrial Index saw declines, with losses of 2.2% and 8.13%, respectively, YTD.
The market’s negative close on Wednesday follows a strong performance on Tuesday, where investors recorded a gain of N471.37 billion. The market capitalization rose to N63.3 trillion, and the All-Share Index advanced by 0.75%, adding 767.63 points to close at 103,137.99.
