By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Thursday dipped 0.08 percent as price declines in blue chips like Nestle Nigeria Plc, Dangote Cement Plc, and Guinness Nigeria Plc pushed the bearish run further to the fourth consecutive day.

With the cautious trading that persisted on the Nigerian Stock Exchange (NSE), the all-share index (ASI) close at 34,400.57 points, while market capitalisation declined by N9.02 billion to N11.68 trillion.

At the close of today’s business on the Nigerian bourse, current market Year-to-Date (Y-t-D) returns stands at a negative 0.74 percent.

Cordros market update said the broader market decline notwithstanding, three (3) of the five (5) NSE sector indices recorded appreciation. “The Banking index topped the gainers’ chart with a 1.39 percent increase, the Industrial index followed with a 0.55 percent rise, while the Oil/Gas index also added 0.44 percent,” the report added.

It affirmed on the contrary, the Consumer Goods and Insurance indices depreciated by 1.02 percent and 0.36 percent respectively. 

Market breadth at the end of the session on the NSE posted a positive outlook recording 24 gainers and 20 losers.

Pan African lender, Ecobank Transnational Incorporated (ETI) emerged top gainer with a gain of N2.27; while Nigeria’s mid-tier lender, Unity Bank Plc topped the losers table with a loss of 0.29 kobo.

In terms of turnover, volume traded decreased by 30.18 percent to 330.67 million shares valued at N3.75 billion and exchanged in 5,238 deals. 

“We expect cautious trading to persist as investors await a catalyst,” the Cordros market update added.

0.08 percent as price declines in blue chips like Nestle Nigeria Plc, Dangote Cement Plc, and Guinness Nigeria Plc pushed the bearish run further to the fourth consecutive day.

With the cautious trading that persisted on the Nigerian Stock Exchange (NSE), the all-share index (ASI) close at 34,400.57 points, while market capitalisation declined by N9.02 billion to N11.68 trillion.

At the close of today’s business on the Nigerian bourse, current market Year-to-Date (Y-t-D) returns stands at a negative 0.74 percent.

Cordros market update said the broader market decline notwithstanding, three (3) of the five (5) NSE sector indices recorded appreciation. “The Banking index topped the gainers’ chart with a 1.39 percent increase, the Industrial index followed with a 0.55 percent rise, while the Oil/Gas index also added 0.44 percent,” the report added.

It affirmed on the contrary, the Consumer Goods and Insurance indices depreciated by 1.02 percent and 0.36 percent respectively. 

Market breadth at the end of the session on the NSE posted a positive outlook recording 24 gainers and 20 losers.

Pan African lender, Ecobank Transnational Incorporated (ETI) emerged top gainer with a gain of N2.27; while Nigeria’s mid-tier lender, Unity Bank Plc topped the losers table with a loss of 0.29 kobo.

In terms of turnover, volume traded decreased by 30.18 percent to 330.67 million shares valued at N3.75 billion and exchanged in 5,238 deals. 

“We expect cautious trading to persist as investors await a catalyst,” the Cordros market update added.