The bearish run on
Investors had lost N16 billion on Tuesday as the stock market All Share Index (ASI) fell by 0.14 percent or 14 bases points to close at 21,300.47 points.
Consequently, the stock market yesterday declined by 0.94 percent as the ASI closed at 21,100.54 points following sell-offs in
Consequently, Year to Date, YtD return settled at -21.4 percent while market capitalisation decreased N104.2 billion to close at N10.9 trillion.
Analysis of trading yesterday showed that activity level was mixed as volume traded fell 63.4 percent to 154.4 million units while value traded rose 2.5 percent to N1.8 billion.
The most active stocks by volume were
Sector performance was mixed, albeit negatively skewed as three of six indices under coverage lost while the Oil & Gas index closed flat. The AFR-ICT and Insurance indices gained 4.7 percent and 0.1 percent respectively as a result of buying interest in MTN Nigeria (9.3 percent) and WAPIC (4.0 percent).
Conversely, the Industrial Goods index led laggards, down by 2.6 percent on the back of sell-offs in
Meanwhile, investor sentiment weakened as measured by market breadth as six stocks advanced relative to 23 decliners. The best performers were MTN Nigeria (9.3 percent),
Reacting, analysts at
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