By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Bear run persisted on the Nigerian equities market on Tuesday as all share index (ASI) dipped further 0.81 percent to close at 31,372.90 points, while market capitalisation declined by N87.19 billion to close at N10.71 trillion.
Cordros update said the trend is as a result of majority of stocks that traded in today’s session closed on the downside, culminating to current Year-to-Date (Y-t-D) returns on the Nigerian Stock Exchange (NSE) to a negative 9.48 percent.
The report says that all of the five (5) NSE Sectoral indices declined. “The Banking and Consumer Goods indices recorded the worst performance with respective losses of 1.22 percent and 0.82 percent, while the Oil/Gas index followed with a 0.07 percent dip,” it added.
Similarly, the Industrial Goods and Insurance indices also depreciated by 0.02 percent respectively.
At the close of business today on the Nigerian bourse, market breadth outlook worsened, recording eight (8) gainers and 36 losers. Oil marketer, Mobil Oil Nigeria Plc emerged top gainer with a gain of N7.35 per share, while publishing company, Learn Africa Plc topped the losers table with a loss of 0.11 kobo per share.
In terms of turnover, volume traded grew by 4.82 percent to 277.09 million shares, valued at N4.46 billion and traded in 3,643 deals.
“We expect cautious trading in tomorrow’s session,” the Cordros update affirmed.
