By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-All-share index (ASI) at the Nigerian Stock Exchange (NSE) on Wednesday dipped marginally by 0.23 percent on declines across various sectors to close at 34,050.92 points, while market capitalisation reduced by N26.83 billion to close at N11.57 trillion.
The decline which hit hardest the banking stocks put the current Year-to-Date (Y-t-D) returns on the Nigerian bourse to a negative 1.75 percent.
Cordros daily market update say two (2) out of the five (5) NSE Sectoral indices appreciated. “The Consumer and Industrial Goods indices recorded gains of 0.56 percent and 0.35 percent respectively,” the report added.
On the contrary, the Banking index had the worst performance with a 1.52 percent decline, while the Oil/Gas and Insurance indices followed with 1.40 percent and 0.45 percent dip respectively.
At the close of transaction on the Nigerian bourse, market breadth posted a negative outlook as the NSE daily market statistics say 22 gainers and 28 losers were recorded.
First listed registrar on the Nigerian equities market, Africa Prudential Registrars Plc topped the gainers chart with a gain of 0.14 kobo, while Nigeria’s mid tier lender, Unity Bank Plc emerged top losers table with a loss of 0.43 kobo per share.
In terms of turnover, at the close of business on the Nigerian bourse today, volume traded went down by 5.71 percent to 287.81 million shares, valued at N3.18 billion and traded in 4,302 deals.
“The gradual attraction of stocks’ prices, following recent declines, is indicative of a possible rebound in the near term,” Cordros market update affirmed.
