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Stocks market loses N92bn as WAPCO, others prices drop

The sell-offs in the Stock Exchange continued on Wednesday as market capitalisation declined by N91.9 billion to close at N20.7 trillion.

Price declines were recorded for the stocks of WAPCO (-7.1 per cent), Int. Brew (-4.5 per cent) and MTNN (-2.3 per cent).

The benchmark index fell at least 44 basis points (bps) to 39,522.06 points while the return dropped to -1.9 per cent.

Trading activity varied as volume advanced by 9.8 per cent  to 244.3 million units and value fell 23.4 per cent to N4.1bn.

Performance across sectors was poor as four of the six indices under coverage closed southward.

Investor sentiment as measured by market breadth declined to 0.6x from the 0.7x recorded previously as 16 stocks advanced against 29 decliners.

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