Capital Market, Investors Bite, Updates

Nigerian Equities Market Extends Losses, as NSE ASI Dips 0.69%

Posted by InvestAdvocate on

More in Capital Market:

L – R: Shows – Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE; Mrs Yetunde Odejayi, Permanent Secretary, Office of the Deputy Governor, Lagos State; Nike Akande, CON, Chairman, Lagos Chambers of Commernce and Industry; Oscar Onyema, CEO, NSE; Alhaji Muneer Bankole, Managing Director/CEO, Medview Airline Plc; Honourable Minister of State for Aviation, Senator Hadi Sirika; Sheik Abdul Moshen Rahman Al-Thunayan, Chairman, Medview Airline Plc and Alhaja Faosat Bankole at Facts Behind the Listing of Medview Airline Plc on Tuesday.

January 31, 2017/Cordros Research

  • The Nigerian equities market extended losses, with the All Share Index falling by 0.69% to close at 26,036.24 points.
  • Following today’s performance, the Year-to-Date loss increased to 3.12%.
  • The Consumer Goods (-1.43%) and Banking (-1.27%) indices shed weight, on the back of selloffs in NESTLE (-3.07%), NB (-1.55%), ZENITHBANK (-1.26%) and GUARANTY (-1.13%) respectively. Also, the Oil & Gas (-1.26%) and Insurance (-0.83%) indices closed lower, owing to price declines in OANDO (-4.90%), FO (-3.76%), AIICO (-1.67%) and NEM (-1.22%) respectively. On the flip side, the Industrial Goods (+0.59%) index bucked the trend, buoyed by gains in WAPCO (+1.43%) and UCAP (+0.29%).
  • Market breadth was negative, with 16 gainers versus 25 losers. Total volume traded rose by 43.37% to 205.77 million shares, valued at N2.76 billion, and exchanged in 2,914 deals.
  • Corporate Releases: Q3-2016 earnings; HONYFLOUR (PAT: -11% y/y); FY-2016 earnings; FO (PAT: -50 y/y).
  • We expect appetite to remain weakened in the coming session.

Leave a Comment

Your email address will not be published. Required fields are marked *

*