Nigerian stocks shed N19.8 billion or 0.09 per cent on Wednesday as investors placed heavy sell orders on bellwether bank stocks including Zenith, GTCO and UBA, with additional pressure coming from WAPCO, eroding the cumulative gain the market recorded the day before.
The insurance sector was at the far back of performance of the five sector indexes tracked by the bourse as it fell 1.52 per cent, strengthening losses.a pointer to investors’ sentiment to trade, closed in the negative after 20 laggards emerged compared to 13 gainers. The all-share index dropped 37.94 points to at 41,975.45, while market capitalisation scaled up to N21.91 trillion from N21.93 trillion.Multiverse led gainers, appreciating by 10 per cent to close at N0.22. Universal Insurance grew by 10 per cent to end trade at N0.22. Honeywell went up by 9.78 per cent to N3.48. Sterling Bank rose to N1.56, notching up 6.85 per cent in the process. WAPIC traded up 6.25 per cent to N0.51.Lasaco topped the losers’ chart, declining by 9.40 per cent to close at N1.
Ardova fell to N13.50, losing 7.53 per cent in the process. Linkage slumped to N0.53, recording a 7.02 per cent depreciation.Altogether, 292.9 million shares estimated at N2.1 billion were traded in 4,899 deals. FBN Holdings was the most active stock with 58.6 million of its shares worth N614.8 million traded in 521 deals. Multiverse traded 32.1 million shares priced at N6.4 million in 14 transactions. Mutual Benefits had 21.6 million shares valued at N5.3 million exchange hands in 37 deals. Sterling Bank traded 18.5 million shares estimated at N28.2 million in 82 transactions. Transcorp traded 16 million shares valued at N16.1 million in 107 deals.
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