The Nigerian equities market dipped further on Wednesday as investors lost N713 billion at the close of the day’s trading.
This followed the dip in the share prices of Guinness Nigeria Plc, Conoil Plc, and Consolidated Hallmark Plc, among others, on the trading floor.
The benchmark All-Share Index (ASI) decreased to 141,566.30 points from the 142,613.47 points recorded on the previous day.
After five hours of trading at the capital market, the equity capitalisation crashed to N89.5 trillion from N90.2 trillion posted by the bourse on Tuesday.
The market breadth was negative, with 18 stocks advancing, 51 stocks declining, and 87 stocks remaining unchanged in 28,745 deals.
Austin Laz & Company, Champion Breweries, and NCR Nigeria led other gainers with 10%, 9.97% and 9.97% growth each in prices to close at N2.64, N19.74, and N9.55 from the previous N2.40, N17.95, and N8.70 per share.
Guinness Nigeria Plc, Conoil Plc, and Consolidated Hallmark Plc led other price decliners with 9.98%, 9.98% and 9.94% dip in share prices to close at N140.20, N211.10, and N4.35 from the previous N155.75, N234.50, and N4.83 per share.
On the volume index, Champion Breweries led trading with 54 million shares in 448 deals, followed by Universal Insurance Plc, which traded 47 million shares in 404 deals.
Royal Exchange Assurance Plc traded 46 million shares in 183 deals.
On the value index, Zenith Bank Plc traded stocks valued at N1.2 billion in 1,320 deals, followed by MTN Nigeria, which traded equities worth N1.2 billion in 1,083 deals.
Champion Breweries traded shares valued at N988 million in 1, 263 deals.