November 29, 2016/Cordros Research
- Equities declined further, with today’s loss (of 0.34%, to 25,233.42 points) by the All Share Index marking the fourth in a row and eighteenth (out of twenty one sessions) this month.
- Today’s negative close increased the Month-to-Date (-7.30%) and Year-to-Date (-12.29%) losses.
- The Banking (-0.41%) and Industrial Goods (-0.70%) indices dipped, while the remaining three sector indices – Consumer Goods (0.53%), Oil & Gas (0.51%) and Insurance (0.15%) — closed above their yesterday’s levels. The three indices that closed positive were respectively boosted by gains in INTBREW (1.55%), MOBIL (10.25%), TOTAL (3.83%), and AIICO (3.51%). On the other hand, losses by FIDELITYBK (4.88%), ACCESS (2.71%) and DANGCEM (1.24%) pulled down the banking and industrial indices respectively.
- Market breadth improved — though still negative — slightly, with 13 gainers versus 20 losers. Total volume traded increased by 153% to 511.6 million shares, valued at N1.7 billion, and traded in 2,342 deals.
- The losing streak will likely last into this month’s final session tomorrow.
