In tandem with the index decline, total equities market capitalisation contracted by N613.08bn to settle at N156.88tn.
Selling pressure was broad-based across major market sectors, as reflected in the sectoral indices. The NGX Main-Board Index slid to 10,939.43, while the NGX 30 Index dropped to 8,907.98. Banking equities recorded a soft retreat, with the NGX Banking Index dipping to 2,553.87.
The Insurance Index fell to 1,145.85, Consumer Goods decreased to 4,056.39, Industrial Goods slipped to 10,379.12, and the Growth Index contracted to 27,380.30. The Sovereign Bond Index remained unchanged at 668.35.
Market sentiment closed negative, as decliners comfortably outnumbered advancers across the trading floor.
Overall equities activity saw 4.24 billion shares exchanged across 41,389 transactions.
The equities market gainers were led by International Energy Insurance Plc, which advanced 10.00 per cent to close at N4.84, gaining N0.44. John Holt Plc followed closely, adding 9.89 per cent to settle at N10.00, while Trans-Nationwide Express Plc grew 9.75 per cent to end the session at N2.59.
SUNU Assurances Nigeria Plc appreciated 8.48 per cent to close at N3.58, and NEM Insurance Plc rounded out the top performance chart with a 6.25 per cent rally to N34.00.
On the losing side, Unilever Nigeria Plc led the decliners after shedding 9.97 per cent to close at N118.30, down by N13.10. Chellarams Plc plummeted 9.66 per cent to N10.75, while Chapel Hill Denham NIDF dropped 9.55 per cent to N147.70.
DAAR Communications Plc recorded a decline of 9.25 per…
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Read Full Article by Rahma Oladosu at economicconfidential.com
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