The equity market witnessed a downturn on Wednesday as performance indices declined by 0.13 per cent. This followed two consecutive days of bullish trading earlier in the week.
The negative trend was driven by selloffs in Thomas Wyatt Nigeria, UPDC Real Estate Investment Trust, Legend Internet Plc, Berger Paints, and 15 other stocks.
The market capitalisation shed N121 billion or 0.13 per cent to close at N92.284 trillion, compared with N92.405 trillion at the previous session’s opening.
The All-Share Index also fell by 0.13 per cent or 191.09 points, closing at 145,864.80 against 146,055.89 recorded on Tuesday.
However, the market breadth remained positive with 53 gainers and 19 losers.
On the gainers’ table, Learn Africa rose by 10 per cent to close at N7.70, while FTN Cocoa Processors gained 10 per cent, ending at N6.93 per share.
Tripple Gee climbed by 10 per cent to N5.17, while RT Briscoe advanced 10 per cent to close at N3.74 per share.
Prestige Assurance also increased by 10 per cent, closing the day at N2.42 per share.
Conversely, Thomas Wyatt Nigeria fell by 10 per cent to N3.42, while UPDC Real Estate Investment Trust dropped 7.94 per cent to close at N8 per share.
Legend Internet Plc declined by 6.35 per cent to N5.60, while Berger Paints lost 6.16 per cent, ending at N32 per share.
Similarly, Champion Breweries shed 5.75 per cent to close at N16.38 per share.
A total of 1.34 billion shares worth N20.21 billion were traded in 30,749 transactions.
This contrasted with 1.28 billion shares worth N24.25 billion exchanged in 31,155 transactions during the previous session.
Universal Insurance led the activity chart with 193.43 million shares valued at N282.42 million.
Ja Paul Gold followed with 123.2 million shares worth N389.98 million, while Veritas Kapital Assurance traded 93.21 million shares valued at N260 million.
Access Corporation exchanged 84.98 million shares worth N2.35 billion, while Sterling Nigeria transacted 68.20 million shares valued at N552.62 million.