Trading activity on the Nigerian Exchange Group (NGX) failed to keep up with the momentum of Tuesday’s session, as key performance indicators trended downward.
News.ng reports that a total of 805,195,707 shares changed hands in 71,252 deals, with a turnover of N38.41 billion, representing an 8% decline in volume, a 14% drop in turnover compared to the previous day, and an 18% decrease in the number of deals sealed.
Amid the unfavourable outcome, market capitalisation withstood the volatility, reaching N126.1 trillion, which shows continued investor confidence in the Nigerian capital market.
The number of gainers (22) at the end of Wednesday’s trading was lower than the number of losers (37) out of the 132 equities listed on the NGX, as the market ended on a bearish note.
On the gainers’ chart, Premier Paints Plc (PREMPAINTS) appreciated by 10% to close at N12.10 per share. Fortis Global Insurance Plc (FTGINSURE) followed with a 9.73% gain to close at N1.24 per share, while UAC of Nigeria Plc (UACN) recorded an increase of 7.78% to close at N115.00.
Other gainers included Eterna Plc (ETERNA), which advanced by 6.38% to close at N35.00 per share. Custodian & Allied Plc (CUSTODIAN) saw its share price rise by 6.06% to close at N70.00 per share, while Secure Electronic Technology (NSLTECH) gained 5.07% to close at N1.45 per share.
On the other hand, Dangote Sugar Refinery (DANGSUGAR) shares depreciated by 10% to close at N74.70 per share. In the financial services sector, Jaiz Bank (JAIZBANK) shares plummeted by 10% to close at N10.80, while Chemical and Allied Products Plc (CAP) declined by 9.97% to close at N84.85 per share.
Others included Union Dicon Salt Plc (UNIONDICON), whose shares fell by 9.94% to close at N14.95 per share; Haldane McCall (HMCALL), which shed 9.89% to close at N3.92 per share; while Omatek Ventures (OMATEK) closed Wednesday’s trading session with an 8.33% loss at N2.20 per share.
In terms of trading volume, Veritas Kapital Assurance recorded the highest volume with 56.4 million shares traded, followed by Jaiz Bank with 51 million shares, Universal Insurance Company with 48.4 million shares, and Zenith Bank with 47.6 million shares traded.
