By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Monday commenced the week on a bearish note on sell-offs for nine (9) consecutive session as all-share index (ASI) depreciates 0.32 percent to close at 31,628.20 basis points, while market capitalisation dipped by N34.51 billion to close at N10.80 trillion.
Cordros market update says, the decrease led to Year-to-Date (Y-t-D) returns on the Nigerian equities market to a negative 8.74 percent.
According to the report, two (2) of the five (5) NSE sectoral indices appreciated, “the Industrial Goods index topped the gainers’ list with a 0.50 percent increase, while the Insurance index followed suit with a marginal gain of 0.03 percent,” the Cordros update added.
On the contrary, the Consumer Goods and Banking indices posted losses of 1.15 percent and 1.02 percent respectively. In the same vein, the Oil/Gas index shed the least, with 0.85 percent depreciation.
At close of today’s session on the Nigerian bourse, market breadth maintained a negative outlook recording 11 gainers and 30 losers, according to the NSE daily market statistics.
Nigeria’s mid-tier lender, Unity Bank Plc emerged top gainer with a gain of 0.11 kobo per share, while One of Nigeria’s leading conglomerates AG Leventis Nigeria Plc topped the losers chart with a loss of 0.07 kobo per share to close the session.
In terms of turnover, volume traded declined by 44.35 percent to 264.36 million shares, valued at N5.47 billion and traded in 3,049 deals.
“We expect a rebound tomorrow, driven by bargain hunting in some attractively trading blue-chip names,” the Cordros update affirmed.
