By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Thursday dipped 0.11 percent to close at 40,683.45 basis points compared to 0.20 percent recorded the previous session.
Despite the plunge in benchmark index, a marginal positive week-to-date (WTD) profile was maintained at 0.03 percent, according to Cordros report and its Year-to-Date (YTD) returns now stands at 1.56 percent.
The report said the decline in all-share index continued the week’s zigzag trading pattern. Also, market capitalisation at the Nigerian bourse fell by N15.20 billion to close at N13.43 trillion; owed in part to declines in the price of blue-chips like Dangote Cement Plc (DANGCEM), FBN Holdings (FBNH) and Guaranty Trust Bank Plc (GTBank).
According to the Cordros report, three (3) out of the five (5) NSE’s sectoral indices reported growth. The consumer goods index gained 0.87 percent to top the gainers chart, the insurance index followed with a 0.58 percent gain, while the oil/ gas gained 0.37 percent. Contrary to this, the industrial index lost the most with 0.13 percent depreciation, while the banking index declined 0.06 percent.
In terms of market breadth, the NSE closed positive with Vono Products Plc (VONO) leading the 26 gainers chart, while SCOA Nigeria Plc (SCOA) emerging tops at the 25 losers chart a better performance when compared with the previous session.
Market turnover at the close of trading at the Nigerian bourse shows that volume traded increased 39.52 percent to 273.44 million shares, valued at N2.7 billion exchanged in 4,188 deals.
The shares of Unity Bank Plc (UNITYBNK), Transnational Corporation of Nigeria (TRANSCORP) and Diamond Bank Plc were the most active to boost market turnover. However, Zenith Bank Plc and GTBank topped market value chart.
‘’We remain cautious on trading activities tomorrow as we expect investors to react to the pronouncements from the MPC meeting,’’ the Cordros report said.
