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Nigeria's leading finance and market intelligence news report.

Nigeria stock market sheds N11bn as sell-side activities increase

Though on a slight rate, Nigeria’s equities market saw further decline (-0.02percent) on Wednesday as investors continued to offer more stocks for sale on the Bourse.

Stocks like Honeywell Flour Mills, Eterna, Regency Alliance, Cornerstone and Wema Bank topped on the sell-side of the Nigerian Exchange Limited (NGX).

At the close of trading session, the Nigerian Exchange Limited All Share Index (ASI) decreased from 43,255.14 points to 43,245.02 points. The equities market capitalisation decreased from preceding day high of N22.576trillion to N22.565trillion, losing N11billion.

Read also: Stock market sees slight dip amid sell pressure

The year-to-date (YtD) positive return stood lower at +7.39percent. This week, the market has advanced by 0.11percent, while this month it is up by 2.87percent.

Honeywell led the basket of losers after declining from preceding day high of N4.09 to N3.69, losing 40kobo or 9.78percent. It was followed by Eterna which moved down from N6.65 to N6.05, losing 60kobo or 9.02percent.

Regency Alliance also decreased from 39kobo to 36kobo, losing 3kobo or 7.69percent. Cornerstone decreased from 56kobo to 52kobo, down by 4kobo or 7.14percent, while Wema Bank dropped from 83kobo to 80kobo, shedding 3kobo or 3.61percent.

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