Nigerian Equities Market Declines by N107 Billion

On Wednesday, the Nigerian equities market experienced a decline of N107 billion, resulting in a market capitalization of N125.750 trillion, down from N125.857 trillion the previous day. The Nigerian Exchange Group (NGX) share index depreciated by 167.58 basis points, closing at 195,898.53 points compared to 196,066.11 points the day before.

Trading volume also saw a significant drop, with 671.273 million shares traded, representing an 8.61 percent decrease from the previous day's 734.550 million shares. The total value of transactions fell by 5.17 percent, settling at N26.134 billion across 58,792 deals.

The market breadth was negative, with 40 advancers against 29 decliners, bringing the year-to-date return down to -25.89 percent. Notably, NGX Group led the gainers' table with a 10 percent increase, closing at N186.45 per unit, followed by Premier Paints with a 9.92 percent rise, closing at N19.40 per unit.