By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Bearish trading persisted Tuesday on the Nigerian Stock Exchange (NSE) as all-share index (ASI) dipped 0.29 percent amid declines in the Oil/Gas and Consumer Goods sectors, according to Cordros market update.
The NSE ASI closed at 33,492.17 points, while the market capitalisation shed N33.56 billion to close at N11.47 trillion.
With today’s loss, current market Year-to-Date (Y-t-D) returns stands at a negative 3.36 percent.
According to Cordros report, four (4) of the five (5) NSE Sectoral indices declined. “The Oil/Gas index topped the losers’ list with a 0.84 percent decrease, the Consumer Goods and Insurance indices followed suit with respective declines of 0.22 percent and 0.79 percent, while the Banking index shed 0.22 percent,” the report added.
On the contrary, the Industrial index was the sole gainer with 0.13 percent gain.
At the close of business on the Nigerian bourse, market breadth maintained a negative outlook; recording 14 gainers and 26 losers.
National Salt Company of Nigeria Plc (NASCON) emerged the top gainer with a gain of 0.71 kobo per share; while insurer, AIICO Insurance Plc topped the losers chart with a loss of 0.05 kobo per share.
In terms of turnover, volume traded at the Nigerian equities market at the end of today’s session dipped by 32.97 percent to 226.20 million shares, valued at N2.74 billion and traded in 3,512 deals.
“We expect cautious trading in tomorrow session, as the present level of volume and value traded reflect low investor confidence,” the Cordros report affirmed.
