By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Sell-offs triggered across the Oil/Gas and Banking sectors help dip the all-share index (ASI) by 0.54 percent to close at 33,879.21 points, while market capitalisation declined by N62.07 billion to close at N11.51 trillion.
Following this loss, current market Year-to-Date (Y-t-D) returns at the Nigerian bourse stands at a negative 2.24 percent.
Cordros market update say three (3) of the five (5) NSE sectoral indices appreciated. “The Insurance index gained the most by 0.90 percent, while the Consumer and Industrial Goods indices followed with marginal gains of 0.32 percent and 0.13 percent respectively,; the report said.
On the contrary, the Oil/Gas index topped the losers with 2.46 percent decline, while the Banking index also dropped by 1.58 percent, according to Cordros.
At the close of today’s session, market breadth at the Nigerian bourse posted a negative outlook, recording 19 gainers and 36 losers.
Nigerian glass maker, Beta Glass Plc emerged the top gainers with a gain of N1.99 kobo per share, while Salt producer, National Salt Company of Nigeria Plc (NASCON) topped the losers chart with a loss of 0.46 kobo per share.
In terms of turnover, volume traded at the end of transactions on the Nigerian equities market climbed up by 12.61 percent to 252.33 million shares, valued at N3.36 billion and traded in 4,053 deals.
“We expect trade to settle negative in tomorrow’s session, but suggest that investors focus on the opportunities, especially within banks, therein,” the Cordros report affirmed.
