By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (ASI) on Thursday succumbed 0.44 percent on sell-offs across all sectors except the Insurance sector to close at 33,121.65 points, while market capitalisation dipped by N49.56 billion to close at N11.31 trillion.
Today’s loss took the bearish streak to its third session as current market Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) returns stands at a negative 3.46 percent and 4.43 percent respectively according to Cordros daily market update.
The report says gains in the shares of insurers, Mansard Insurance Plc and Continental Insurance Plc led to a 1.49 percent increase in the Insurance index, the sole gainer amongst the five (5) NSE sector indices.
The Cordros update further affirmed that the Banking index topped the losers’ chart with a 1.09 percent decline, the Oil/Gas and Consumer Goods indices followed with respective depreciations of 0.84 percent and 0.36 percent, while the Industrial Goods index dipped by a marginal 0.09 percent to close the session.
At the close business today on the Nigerian bourse, market breadth maintained a negative outlook posting 13 gainers and 33 losers.
Integrated energy company, Eterna Plc emerged the top gainer with a gain 0.12 kobo per share, while Foam maker, Vono Products Plc topped the losers list with a loss of 0.06 kobo per share.
In terms of turnover, volume traded depreciated by 1.21 percent to 306.60 million shares valued at N5.20 billion and traded in 3,435 deals.
“Although cautious trading is likely to persist, we expect investors to begin to bargain hunt in anticipation of half year results,” the Cordros update noted.
