By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks commenced the week on negative note as all-share index (ASI) shed 0.13 percent to close at 34,342.07 points on weak investors’ sentiment.
Market capitalisation dipped by N15.64 billion to close at N11.66 trillion as the continuation of the losing streak led to the current Year-to-Date (Y-t-D) returns to stand at a negative 0.91 percent.
Cordros market update reported that two (2) of the five (5) Nigerian Stock Exchange (NSE) Sectoral indices appreciated – the Consumer and Industrial Goods indices – recording minimal gains of 0.82 percent and 0.02 percent respectively.
According to the report, the Oil/Gas index had the worst performance with a 1.33 percent reduction, while the Banking and Insurance indices followed with 0.96 percent and 0.48 percent declines respectively.
Despite the losses posted today at the end of trading on the Nigerian bourse, the NSE daily statistics reported a positive market breadth; recording 26 gainers and 18 losers.
Leasing firm C & I Leasing Plc emerged top gainer with a gain of 0.06 kobo per share, while Nigeria’s mid-tier lender, Unity Bank Plc topped the losers chart with a loss of 0.25 kobo.
In terms of turnover, volume traded declined by 0.50 percent to 207.30 million shares, valued at N2.36 billion and traded in 3,907 deals.
“Market is expected to replicate last week’s performance as investors continue to await a catalyst,” the Cordros update affirmed.
