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Stock market loses N49bn as firms share prices falls

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Grace Cofie

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The Nigeria Stock Exchange, at the end of trading on Wednesday, recorded a loss as the equities market dropped by N49.21bn and 24 firms saw their share prices fall.

Market activities was negative as the total volume of shares exchanged fell to N264.79 million units valued at N6.08bn in 4,230 deals from 423.83 million units worth N11.65bn in 4,181 deals on Tuesday.

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FBN Holdings Plc emerged as the most traded stocks by volume as it accounted for 25.91% of the total volume of shares traded, while Nestle Nigeria Plc was the most traded by value, accounting for 48.85 per cent of the total value of trades on Wednesday.

The market sentiment, as measured by the market breadth, was negative at the end of trading on the floor the NGX.

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The NGX All-share Index dropped by 0.22 per cent to close at 43,349.9 basis points from 43,444.20bps on Tuesday, while the market capitalization fell to N22.62tn from N22.67tn.

Sectoral performances titled negative as the insurance, oil and gas, consumer goods and banking indices depreciated while the industrial sector rose.

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