ACTIVITIES on the floor of the Nigerian Stock Exchange (NSE), on Wednesday, further closed in the red, as losses outweighed gains, following price losses suffered by major highly capitalised companies leading to market performance indices sliding by 0.47 per cent.

Specifically, the all-share index depreciated by 98.91 basis points from 20,792.75 to 20,693.84, while market capitalisa-tion shed weight by N31 billion from N6.552 trillion to N6.521 trillion.

Further analysis of transactions on Wednesday showed that the banking sector, buoyed by the activities in shares of the United Bank for Africa (UBA) and FirstBank Plc was the most active in terms of volume, with a turnover of 440.5 million shares worth N1.4 billion in 2,247 deals.

Insurance sub-sector, activated by the activities in the shares of NEM Insurance, followed with a turnover of 27 million shares worth N15.8 million in 134 deals.

On the whole, investors exchanged 506 million shares worth N1.9 billion in 3,984 deals.

Twenty-seven companies depreciated in price in percentage change, led by NAHCO, Gold Insurance, Dangote Flour, Diamond Bank and GT Assurance with 4.99, 4.92, 4.92, 4.81 and 4.76 losses to close at N7.23; N0.56; N4.64; N2.57 and N1.20 per share respectively.

On the other hand, 11 stocks constituted the gainers’ chart, as Vitafoam emerged the day’s highest price gainer with 5.0 per cent gain to close at N3.15 per share.

Livestock followed with 4.94 per cent gain to close at N0.85 per share; International WAPIC added 4.0 per cent to close at N0.52 per share, while Access Bank gained 2.63 per cent to close at N5.85 per share.

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