The equities segment of the Nigerian Stock Exchange continued its poor run on Wednesday as stocks failed to halt losses.
As a result, the major market indicators closed on the negative note for the thirds consecutive day this week with investors retaining a cautious approach to the market.
The NSE All Share Index fell by 56.86 basis points or 0.13 per cent to close at 41,207.79 basis points, compared to the 133.4 basis points drop it suffered the previous day to close at 41,264.65.
Similarly, the market capitalisation of the listed equities fell by 0.13 per cent or N19bn to close at N13.607tn. The market capitalisation had shed N44bn or 0.32 per cent to close at N13.625tn on Tuesday.
Investors exchanged 201.06 million shares worth N2.4bn in 5,392 deals with the banking sub-sector of the financial services sector topping the activity chart in terms of turnover volume.
In the sub-sector, 87.7 million shares worth N715.3m were traded in 2,085 deals.
Volume in the banking sub-sector was driven by trading in the shares of Sterling Bank Plc and Access Bank Plc.
In all, 20 stocks appreciated in value on Wednesday led by Premier Breweries Plc, which gained 9.62 per cent or 23 kobo to close at N2.62 per share.
May and Baker Nigeria was up by 4.61 per cent or seven kobo to close at N1.59 per share, while WAPIC Insurance Plc and Portland Paints and Products Plc gained 4.11 per cent and 3.60 per cent to close at 76 kobo and N5.18 per share, respectively.
Also among the gainers were Costain (West Africa) Plc and Guinness Nigeria Plc, which rose by 2.65 per cent or three kobo and 2.46 per cent or N4.44 to close at N1.16 and N184.94 per share in that order.
On the other hand, Vono Products Plc led the losers’ table after shedding five per cent or five kobo to close at 95 kobo per share.
Eterna Plc fell by 4.92 per cent to close at N4.25 per share; while National Salt Company of Nigeria was down by 4.91 per cent or 50 kobo to close at N9.69 per share.
Also, Neimeth Pharmaceutical Plc shed 4.63 per cent or five kobo to close at N1.03 per share, while Cutix Plc declined by 4.21 per cent to close at N1.82 per share.
