The Nigerian equities market experienced a decline for the third consecutive trading session, as investors lost N5 billion amidst sell-offs.
The All-Share Index (ASI) fell by 9.95 points, closing at 97,477.19 points.
Market capitalization decreased by N5 billion to N56.014 trillion.
Price depreciation in large and medium-capitalized stocks such as Fidson Healthcare, Nigerian Breweries, Fidelity Bank, UBA, and Africa Prudential contributed to the downturn.
Despite the overall negative trend, market breadth closed slightly positive with 23 stocks gaining compared to 22 stocks declining. Regency Alliance Insurance emerged as the top gainer, increasing by 10%. Other notable gainers included Caverton Offshore Support Group, Royal Exchange, ABC Transport, and University Press.
On the losing side, DAAR Communications led with a decline of 10%, followed by Livestock Feeds, SUNU Assurance, Fidson Healthcare, and Consolidated Hallmark Holdings.
The total volume of trade decreased by 22.01% to 277.745 million units, valued at N4.653 billion, exchanged in 7,091 deals. Fidelity Bank, UBA, and Zenith Bank were among the most actively traded stocks.
