Profit-Taking Drags NGX Lower As ASI Fell By 0.45%
Trading on the Nigerian Exchange closed lower on Wednesday as profit-taking among major players, including institutional investors, weighed on the market.
The All-Share Index fell by 0.45%, dropping to 138,157.16 points from Tuesday’s 138,780.55 points. Market capitalisation also dipped by the same margin, closing at ₦87.416 trillion, a decline of ₦395 billion from the previous session.
A total of 483 million shares worth ₦19.7 billion exchanged hands in 28,193 transactions. Market breadth ended negative with only 14 gainers against 44 losers.
Secure Electronic Technology led the gainers’ chart, appreciating 9.09% to close at ₦0.96 from ₦0.88. Consolidated Hallmark Holdings and John Holt also posted strong advances of 8.53% and 7.94%, respectively.
On the flip side, Legend Internet, LearnAfrica, and Daar Communications shed 10% each, topping the losers’ list. Mansard and Universal Insurance followed with respective declines of 9.95% and 9.60%.
Among the actively traded stocks, AccessCorp moved about 43 million shares worth ₦1.1 billion across 1,439 deals. Fidelity Bank exchanged 40 million shares in 711 deals valued at ₦844 million, while GTCO accounted for 35 million shares in 1,636 deals, worth ₦3.2 billion.
