The equities market of the Nigerian Exchange Limited (NGX) for the fourth consecutive session, at the close of mid-week trading activities recorded a market capitalization lost of N553.71billion to close at N28.88trillion.
The domestic bourse, also, sustained the losing streak, bringing down the benchmark Index by 1.88 per cent to close at 53,018.97 points, the lowest point since 30 January.
The decline puts the index on track for another week of loss.
On market movers, the weak performance was driven by selloffs in index heavyweights, AIRTEL AFRICA (-10.00%) offset gains in ZENITHBANK (+1.39%), GTCO (+0.41%) and WAPCO (+0.78%) dragging down the market.
As a result, the year-to-date (YTD) return fell to 3.45 per cent.
Analysis of the Wednesday's market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 12.78 per cent.
A total of 197.33million shares valued at N2.67billion were exchanged in 3,506 deals.
UBA (+0.00%) led the volume chart with 64.20million units traded, while AIRTEL AFRICA (-10.00%) led the value chart in deals worth N536.807million.
Market breadth closed negative at a 1.10-to-1 ratio with declining issues outnumbering advancing ones.
AIRTEL AFRICA (-10.00%) topped ten (10) others on the laggard's log, while WAPIC (+7.50%) led nine (9) others on the leader's table.
