UBA, Oando, Nascon, others drag NGX-ASI down by 0.57%

After Tuesday’s positive close, stocks like UBA, Oando, Nascon, Thomas Wyatt, and Lasaco dragged Nigeria’s equities market down by 0.30 percent on Wednesday.

This year’s return has lowered to +29.15 percent amid two days of negatives as against a day of positive close since this week.

The share price of UBA, one of Wednesday’s major laggards decreased from N35.05 to N31.55, losing N3.50 or 9.99 percent, while share price of Oando, another major decliner was down from N72.65 to N65.40, losing N7.25 or 9.98 percent.

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Also, Thomas Wyatt dipped from N1.94 to N1.75, losing 19kobo or 9.79 percent, followed by Nascon which dipped from N32.55 to N30, losing N2.55 or 7.83 percent.

Lasaco also made the top decliners list after its share price decreased from N2.40 to N2.22, losing 18 kobo or 7.50 percent.

At the close of Wednesday’s trading session, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s highs of 97,123.61 points and N58.851trillion respectively to 96,567.24 points and N58.514 trillion.

In 9,021 deals, investors exchanged
418,386,118 shares worth N10.041billion. Stocks like Sterling Financial Holdings Company, UBA, Access Holdings, Jaiz Bank and Veritas Kapital Assurance were actively traded on Wednesday.