The year-to-date decline of the Nigerian stock market worsened to 9.5 per cent yesterday following continued negative sentiments at the market. Sell-off in bellwethers further depressed the Nigerian Stock Exchange All-Share Index by 0.48 per cent to close at 28,286.08, while market capitalisation shed N51.3 billion to close at N10.6 trillion yesterday.
Also , the activity level was lower as volume and value traded fell 11.7 per cent and 22.8 per cent to 176.7 million shares and N2.1 billion respectively. The top traded stocks by volume were Access Bank Plc , UAC of Nigeria Plc and UBA while the top traded stocks by value were GTBank , Nestle Nigeria Plc .
A total of 17 stocks depreciated as against 11 that appreciated. WAPIC Insurance Plc led the price losers with 10 per cent trailed by Forte Oil Plc with 9.8 per cent. Champion Breweries Plc shed 9.7 per cent, while Cement Company of Northern Nigeria Plc depreciated by 9.1 per cent.
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