The Nigerian equities market yesterday, extended losses for the fourth consecutive session, as investors’ wealth declined further by N931 billion, amid price depreciation in 39 stocks.

At the close of transactions yesterday, the All-Share Index (ASI) shed 1,526.14 points, representing a loss of 1.47 per cent to close at 102,095.95 points. Also, market capitalisation declined by N931 billion to close at N62.257 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst, which are; Dangote Cement, Transcorp Power, Africa Prudential, Vitafoam Nigeria and John Holts.

On market outlook, Analyst at Afrinvest, said: “Investor sentiment, as measured by market breadth, marginally strengthened to -0.18x (previously -0.28x) as 29 stocks advanced, 40 declined. We anticipate the market will continue to follow a similar trend tomorrow (today), driven by subdued investor sentiment.

As measured by market breadth, sentiment was negative, as 28 stocks gained relative to 39 losers. Dangote Sugar Refinery, SUNU Assurance and NASCON Allied Industries emerged the highest price gainer of 10 per cent each to close at N36.85 kobo, N6.71 kobo and N38.50 kobo respectively.

Skyway Aviation Handling Company followed with a gain of 9.95 per cent to close at N33.15 kobo, while Austin Laz and Company advanced by 9.94 per cent to close at N1.99 kobo.

On the other side, Dangote Cement and Universal Insurance led others on the losers’ chart with 10 per cent each to close at N387.90 and 63 kobo respectively, while John Holt followed with a decline of 9.99 per cent to close at N8.47, per share.Transcorp Power lost 9.97 per cent to close at N324.00, while Omatek Ventures depreciated by 9.89 per cent to close at 82 kobo.

The total volume traded declined by 14.79 per cent to 435.542 million units, valued at N9.442 billion, and exchanged in 12,098 deals. Transactions in the shares of Universal Insurance led the activity with 70.309 million shares worth N46.390 million. AIICO Insurance followed with account of 39.682 million shares valued at N67.511 million, while Access Holdings traded 16.841 million shares valued at N413.986 million.

Livestock Feeds traded 16.823 million shares worth N106.766 million, while Nigerian Breweries traded 16.195 million shares worth N518.152 million.