Stock Market Sheds Another 0.06% on Wednesday

The Nigerian stock market closed in the red again on Wednesday as the Nigerian Exchange Limited (NGX) All-Share index dipped by another 0.06% following a 0.04% decline on Tuesday.

Equities investors traded 135.3 million shares worth N1.45 billion in 3,745 deals during the trading hours of Wednesday, against 234.4 million units estimated at 2.56 billion that exchanged hands on Tuesday. Transcorp was the most trade equity on Wednesday with 15,551,438 shares worth N19,586,182.41. GTCO followed with 13110865 shares valued at N267,085,162.30.

All the indices closed in negative. The banking index lost 60 basis points (bps) on a 9.71% decline in the value of Union Bank of Nigeria and a 1.22% depreciation in Fidelity Bank. Wema Bank, Unity Bank, Sterling Bank, UBA and Zenith Bank gained 2.17%, 1.33%, 0.67% and 0.46%, respectively.

The consumer goods index also lost 3bps on Wednesday. In the sector, Champion led the decline with 10% and Intbrew followed with 5.26%. Unilever, however, posted a 1.31% gain.

As expected, the oil and gas index followed its global counterparts to shed 16bps on a 0.91% decline in the value of Oando stock. The industrial index was flat.

The market value of listed equities declined to N27.795 trillion while the NGX All-Share index lost 0.06% to 51,556.54 index points.

The year-to-date return moderated to 20.69% as 17 stocks closed in the green, against 16 that closed in the red. See other details below.

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