Profit-taking in Tier-one banks on Wednesday slightly pulled back the equity market, bringing the All-Share Index down by 0.06 per cent.
Specifically, the All-Share Index closed at 99,845.91, as against 99,908.89 posted on Wednesday, indicating a loss of 0.06 per cent or 63 points.
Similarly, the market capitalisation, which opened at N56.504 trillion, declined by N35 billion or 0.06 per cent to close at N56.469 trillion.
Consequently, the Year-To-Date (YTD) return slipped to 33.53 per cent.
The bearish performance was triggered by profit-taking in tier-one banks, namely, Guaranty Trust Holding Company (GTCO), FBN Holdings and United Bank Africa (UBA).
Others include Access Corporation, Fidelity Bank, United Capital, Consolidated Hallmark Holdings, among other top decliners.
Meanwhile, market breadth closed negative with 19 losers and 16 gainers.
On the losers’ chart, United Capital led by 9.73 per cent to close N18.10, followed by Consolidated Hallmark Holdings by 9.70 per cent to close at N1.21 per share.
Computer Warehouse Group shed 9.52 per cent to close at N5.70, Chams went down by 9.14 per cent to close at N1.69 and Sunu Assurances declined by 8.26 per cent to close at N1.
On the other side, Guinness Nigeria led by 10 per cent to close at N55, Neimeth International Pharmaceuticals added 9.76 per cent to close at N1.80 per share.
Also, Morison Industries Plc rose by 9.73 per cent to close at N3.72, International Energy Insurance advanced by 9.30 per cent to close at N1.41 and Regency Alliance Insurance went up by 8.33 per cent to close at 39k per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 4.77 per cent.
Investors transacted a total of 285.91 million shares valued at N5.54 billion exchanged in 7,726 deals, compared to 322.66 million shares valued at N5.82 billion exchanged in 9,074 deals traded previously.
READ ALSO:
- FG unveils 6-point initiatives to revamp education sector
- Rema Becomes First African Artiste To Get Certification In Norway
- 2024 CAF Awards: Again, women’s football rescues Nigeria, NFF boss hails trend
- CAF Awards 2024: Nnadozie Reacts To Goalkeeper Of The Year Win
- Lookman Elated To Win CAF Men’s Player Of The Year Award
On the activity chart, Access Corporation led in volume with 43.98 million shares valued at N766.17 million, while GTCO followed with 32.79 million shares worth N1.14 billion to lead the chart.
UBA sold 28.45 million shares valued at N649.95 million, Transcorp traded 23.59 million worth N326.65 million and Zenith Bank transacted 22.01 million shares worth N795.98 million.(NAN)
