Nigerian stocks were almost completely unchanged on Wednesday as the benchmark index slackened by as little as 0.01 per cent, and low liquidity continued to dog the market despite a broadly promising earnings season.
Sell-offs in the shares of GTCO, Access and FBN Holdings weakened performance at individual stock level.
A dip of 0.87 per cent in the insurance index also contributed to the negligible setback, and that equally made it the only one of the five sector indexes to report a negative outing.
However, market breadth, which gauges the depth of investor sentiment, was positive, with 19 gainers recorded compared to 17 laggards.
The all-share index eased 4.69 points to close at 39,545.67, while market capitalisation closed lower at N20.6 trillion.
Year to date, the index is down by 1.8 per cent.
TOP FIVE GAINERS
Pharma Deko led gainers, appreciating by 10 per cent to close at N1.43. BOC Gases went up by 9.78 per cent to N10.10. NPF Honeywell rose to N2.71, notching up 9.72 per cent. Courteville added 8 per cent to end the trade at N0.27. FTN Cocoa completed the top 5, climbing by 6.06 per cent to N0.35.
TOP FIVE LOSERS
SCOA was the worst performing stock, declining by 9.66 per cent to close at N1.59. Prestige shed 8.33 per cent to close at N0.44. Regal Insurance fell to N0.40, losing 6.98 per cent. Mutual Benefits slumped to N0.33, recording 5.71 per cent depreciation. Caverton closed at N1.72, going down by 5.49 per cent.
TOP 5 TRADES
Altogether, 132.1 million shares estimated at N2.7 billion were traded in 3,307 deals.
Transcorp was the most active stock for the second day running with 14.1 million units of its stocks worth N13.5 million traded in 86 deals. Chams’s shares numbering 14.1 million and priced at N2.9 million exchanged hands in 56 transactions. Zenith had 8.5 million shares valued at N206.2 million traded in 264 deals. GTCO traded 6.2 million shares estimated at N175 million in 254 transactions. Oando traded 5.4 million shares valued at N26.8 million in 122 deals.
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