News Investigators/ The equities market reversed its bullish trend on Wednesday, losing N41 billion after four consecutive days of bullish rally.
Selloffs in key stocks pushed the market into negative territory.
Stocks under pressure included: Beta Glass, Academy Press, Computer Warehouse Group, Learn Africa, UPDCREIT and 24 other equities.
Market capitalisation fell by N41 billion, or 0.03 per cent, from N158.955 trillion to close at N158.914 trillion.
Similarly, the All-Share Index declined by 0.03 per cent, shedding 63.46 points to close at 246,019.17.
This led to market Year-To-Date return weakening to 58.10 per cent.
However, the market breadth closed positively, recording 33 gainers and 29 losers.
Tripple Gee led the gainers’ chart by 10 per cent, settling at N2.86, Sovereign Trust Insurance trailed by 9.71 per cent, closing at N2.26 and Oando climbed by 9.43 per cent, finishing at N38.30 per share.
Similarly, Mc Nicholas increased by 9.09 per cent, ending the session at N5.40 while Nem Insurance advanced by 7.99 per cent, settling at N34.45 per share.
Conversely, Beta Glass led the losers’ chart by 9.99 per cent, closing at N506.60.
Academy Press followed by 9.76 per cent, ending the session at N5.55 while Computer Warehouse Group lost by 9.35 per cent, finishing at N19.40 per share.
Also, Learn Africa dipped by 9.20 per cent, settling at N7.90 and UPDCREIT shed by 6.30 per cent, closing at N12.65 per share.
The market activity weakened during the session, with total volume down 34.47 per cent to 426.84 million shares, valued at N28.44 billion across 41,475 transactions.
Access Corporation led by volume with 33.22 million shares traded, representing 7.78 per cent of the day’s activity, while Aradel topped the value chart at N4.14 billion, accounting for 14.55 per cent of total value traded.
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