Mixed sentiments persisted on the nation’s bourse on Wednesday with the market capitalisation dropping N274 billion in six hours of trading due to sell-off of blue chips.
Specifically, the market capitalisation dipped N274 billion or 1.33 per cent to close at N20.296 trillion from N20.570 trillion achieved on Tuesday.
Also, the All-Share Index which opened at 39,305.48 points lost 524 points or 1.33 per cent to close at 38,781.48.
The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which were; Guinness Nigeria, International Breweries, Ardova Plc, PZ Cussons and UACN.
The market sentiment remained negative with 23 laggards against 20 gainers.
FTN Cocoa Processors led the losers’ chart in percentage terms with 10 per cent to close at 36k per share.
Neimeth International Pharmaceuticals followed with 8.95 per cent to close at N1.73, while International Breweries lost 8.77 per cent to close at N5.20 per share.
PZ Cussons dropped 7.41…
Source: Guardian Newspaper