The Nigerian Exchange (NGX) closed lower on Wednesday as profit-taking activity by investors extended the market’s bearish trend.
The All-Share Index (ASI) fell by 0.15% to 140,716.10 points, down from the previous close of 140,929.60 points. Market capitalisation also dipped by ₦135 billion to ₦89.063 trillion, compared to ₦89.199 trillion on Tuesday.
Trading activity remained robust, with 443 million units of shares exchanged in 21,685 deals, valued at ₦17 billion. However, market breadth ended negative as 29 stocks declined against 23 gainers.
Top Gainers
Dangote Sugar led with a 10.00% rise, closing at ₦59.40 from ₦54.00.
Mecure gained 9.95%.
Cornerstone Insurance advanced 8.00%.
Top Losers
Deap Capital shed 9.42%, closing at ₦1.73 from ₦1.91.
Legend Internet dropped 9.26%.
WAPIC and RT Briscoe lost 8.75% and 8.16% respectively.
Volume Drivers
Zenith Bank topped activity with 69 million shares traded in 1,445 deals, valued at ₦4.8 billion.
AccessCorp followed with 47 million units in 1,308 deals, worth ₦1.2 billion.
First HoldCo recorded 46 million units in 370 deals, valued at ₦1.4 billion.
Analysts say profit-taking is likely to persist in the short term as investors lock in gains from earlier rallies.
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