By Seun Ibiyemi
Investors in the Nigerian equities market lost N34 billion on Wednesday following declines in key stocks, including Chams Plc, Haldane MCall, and UAC Nigeria.
The All-Share Index (ASI) dropped to 146,862 points from 146,940.29 recorded the previous day, while market capitalisation fell slightly to N93.6 trillion from N93.64 trillion.
Market activity showed a negative breadth, with 21 stocks advancing, 32 declining, and 93 remaining unchanged across 19,161 deals. A total of 747,086,702 shares changed hands, valued at N12.4 billion.
Among the top gainers, Japaul Gold rose 10 per cent to N2.53 per share, Prestige Assurance climbed 9.4 per cent to N1.63, and Mecure gained 7.72 per cent to close at N34.90 per share.
Conversely, Chams Plc, Haldane MCall, and UAC Nigeria led the losers, falling 10%, 8.88 per cent, and 7.2 per cent to close at N3.06, N4.00, and N80.80 per share, respectively.
On the volume index, Cutix led trading with 122 million shares across 215 deals, followed by First City Monument Bank with 80 million shares in 389 deals, and Consolidated Hallmark Plc, which traded 71 million shares in 44 deals.
In terms of value, Guaranty Trust Holding Plc topped the index with stocks worth N2.7 billion traded in 963 deals, followed by Fidelity Bank at N1.2 billion in 426 deals, and Access Corp Holding, which saw N905 million in trades across 1,119 deals.
The market’s performance reflects heightened volatility, with investors reacting cautiously amid fluctuations in key equities.