By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSE ASI) slipped deeper 0.04 percent into the red zone to close at 24,639.39 points, while market capitalisation declined by N3.41 billion to N8.48 trillion.
“Today’s performance increased the Month-to-Date and Year-to-Date losses to 2.63 percent and 13.98 percent respectively,” Cordros daily market update affirmed.
According to the update, at the close of today’s session, the Industrial and Consumer Goods indices dipped 0.31 percent and 0.18 percent apiece, weighed down by losses declared in the shares of highly capitalised Dangote Cement Plc by 0.56 percent and Fast Consumer Moving Goods (FCMG), Flour Mills Nigeria Plc by 5.23 percent.
On the flipside, the Banking sector emerged the top gainer with a gain of 0.78 percent, following positive investor sentiments in the shares of Nigeria’s top tier lenders, Zenith Bank Plc, Guaranty Trust Bank Plc and financial HoldCo, FBN Holdings Plc; all appreciating 3.81 percent, 1.50 percent and 2.73 percent apiece.
Similarly, the Insurance and Oil & Gas indices climbed up 0.42 percent and 0.35 percent each; boosted by share price increases in Axa Mansard Insurance Plc and oil marketer Oando Plc by 2.56 percent and 4.93 percent respectively.
At the close of trading on the Nigerian bourse, market breadth was positive, with 19 gainers and 18 losers posted. Multi-application and multi-channel electronic transaction switching and payment processing firm, Etranzact International Plc topped the gainers chart with a gain of 0.35 kobo per share; while drugmaker, Fidson Healthcare Plc emerged the top loser with a loss of 0.20 kobo per share.
In terms of turnover, total volume traded on the Nigerian equities market increased to 6.96 billion shares valued at N7.16 billion and traded in 3,440 deals.
“We opine that the positive market breath evident in today’s session is indicative of improved investor sentiments which will likely spill over into tomorrow’s session,” the Cordros update added.
