The equities market dipped further on Wednesday, shedding N367 billion, or 0.42 per cent to close at N87.416 trillion, having opened at N87.783 trillion.

This marked the third consecutive negative session in the week.

The All-Share Index also declined by 0.42 per cent or 580.48 points, to close at 138,157.16, against 138,737.64 reported on Tuesday.

Selloffs in DAAR Communications, Learn Africa, Legend Internet, Mandard Insurance, Universal Insurance, and 39 other declined equities kept the market on negative terrain.

The market breadth closed negative with 44 losers and 15 gainers.

On the decliners’ chart, DAAR Communications, Learn Africa, and Legend Internet led by 10 per cent each, closing at 90k, N7.02, and N4.77 per share, respectively.

Mansard Insurance fell by 9.95 per cent, finishing at N14.39, and Universal Insurance shed 9.60 per cent to settle at N1.13 per share.

Conversely, Secure Electronic Technology led the gainers’ chart, increasing by 9.09 per cent and ending the session at 96k per share.

Consolidated Hallmark Holdings rose by 8.53 per cent and closed at N4.20, while John Holt climbed by 7.94 per cent and settled at N6.80 per share.

Cadbury Nigeria soared by 5.45 percent, finishing at N55, and Wema Bank grew by 5.31 per cent and closed at N21.80 per share.

Analysis of market activity revealed a decline in market deals and value, with an increase in volume, as 482.8 million shares worth N19.7 billion were traded across 28,193 transactions.

This is in contrast to 407.6 million shares worth N39.9 billion that were exchanged across 31,406 transactions earlier.

Meanwhile, Access Corporation led the market chart in volume, with 43.03 million shares valued at N1.1 billion.

Fidelity Bank followed with 40.13 million shares worth N843.8 million, while Guaranty Trust Holding Company transacted 34.8 million shares valued at N3.16 billion.

United Bank for Africa sold 33.4 million shares worth N1.5 billion, and AIICO Insurance traded 29 million shares valued at N91.6 million.

(NAN)