By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Tuesday closed in red as all-share index (ASI) dipped 0.45 percent on active profit-taking activities to close at 27,475.48 points, while market capitalisation fell by N42.26 billion to N9.44 trillion.
“Today’s loss further extended the Month-to-Date and Year-to-Date losses to 0.68 percent and 4.07 percent respectively,” Cordros daily market update reported.
According to the update, at the close of the session, the Banking and Consumer Goods indices closed lower by 1.34 percent and 0.14 percent apiece, following price declines in the shares of Nigeria’s top tier lenders, Guaranty Trust Bank Plc and United Bank for Africa Plc by 0.53 percent and 0.33 percent each, while on the Consumer Goods index, beverage producer, Cadbury Nigeria Plc and beermaker, Nigerian Breweries Plc lost 4.98 percent and 0.44 percent respectively.
Similarly, the Industrial Goods index shed weight by 0.33 percent, on the back of a loss in the shares of Nigeria’s most capitalised quoted company and top cement manufacturer, Dangote Cement Plc depreciating by 0.59 percent.
On the positive side, the Insurance and Oil & Gas indices gained by 0.11 percent and 1.35 percent each, owing to positive investor interest in the shares of insurer, Nem Insurance Plc by 5.00 percent and Oando Plc by 10.16 percent.
Cordros reports that at the close of trading on the domestic bourse, market breadth was negative, with 16 gainers and 17 losers posted, according to the NSE’s daily market statistics. Oando emerged the top gainer with a gain of 0.62 kobo per share; while UBA topped the losers chart with a loss of 0.45 kobo per share.
In terms of turnover, total volume traded on the Nigerian equities market added 28.73 percent to 183.24 million shares, valued at N2.01 billion, and exchanged hands in 3,488 deals.
“We expect a positive close in tomorrow’s session, as today’s performance (an improvement in market breadth) signals strengthening appetite,” Cordros affirmed.
