By Abubakar Yunusa
The equity market, on Wednesday, dipped further as the market capitalisation shed N931 billion or 1.47 per cent to close at N62.257 trillion, having opened at N63.188 trillion.
The All-Share Index also lost 1.47 per cent or 1,526.14 points to close at 102,095.95, against 103,622.09 reported on Tuesday.
Accordingly, the Year-To-Date (YTD) return fell by 0.81 per cent.
Selloffs in Dangote Cement, Guaranty Trust Holding Company(GTCO), United Bank For Africa(UBA) alongside other declined equities kept the market in a negative terrain.
Market breadth closed negatively at 39 losers and 28 gainers.
On the losers log, Dangote Cement and Universal Insurance led by 10 per cent each to close at N387.90 and 63k per share respectively.
John Holt trailed closely by 9.99 per cent to close at N8.47 while Transnational Power dropped by N324 and Omatek declined by 9.89 per cent to close at 82k per share.
Conversely, Dangote Sugar, Sunu Assurances, and National Salt Company led the gainers’ log by 10 per cent each to close respectively at N36.85, N6.71 and N38.50 per share.
Sky Aviation also gained 9.95 per cent to close at N33.15 and Austin Laz added 9.94 per cent to close at N1.99 per share.
Trade turnover settled lower relative to the previous session, with the value of transactions down by 25.99 per cent.
A total of 435.54 million shares valued at N9.44 billion were exchanged in 12,098 deals, compared to 503.31 million shares valued at N12.63 billion traded in 12,900 deals posted previously.
Meanwhile, Universal Insurance led the activity chart in volume with 70.31 million shares, while BUA Foods led in value of deals worth N2.52 billion.
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