Market continues bleeding as investors lose N259bn

The bearish trend that resurfaced on the Nigerian Stock Exchange (NSE) on Tuesday continued  on Wednesday as the All Share Index (NSE ASI) and the Market Capitalization decreased by 2.72 per cent, while the Year-to-Date return stood at -6.05 per cent.

The All Share Index closed at 26,910.23 against the previous close of 27,663.16 while Market Capitalization closed at ₦9.242 trillion against previous close of ₦9.501 trillion, making investors on the Exchange  to suffer price depreciation of N259 billion.

Despite the significant loss, volume of shares traded increased by 5.15per cent from 335.057 million on Tuesday to 352.297 million at the close of market today. The total value of stock traded increased by 22.27 per cent from ₦3.146 billion to ₦3.847 billion in 5,024 deals.

The Financial Services sector led the activity chart with 270.848 million shares exchanged for ₦2.349 billion. Conglomerates came next with 30.854 million shares traded for ₦0.044 billion, Consumer Goods, Services, Oil And Gas sectors followed in that order on the activity chart.

Zenithbank, Guaranty, Transcorp, FBNH and ETI were the most active stocks by volume. Etranzact, Cadbury, UAC-PROP, Uniondicon and Transexpr emerged the highest price gainers on the chart, while Stanbic, Guaranty, Oando, UBA and FCMB topped the losers chart.