NIGERIAN equities on Thursday still remained on red as all-share index, ASI declined 0.39 percent to close at 32,739.11 basis points, while market capitalisation dipped N44.44 billion to N11.18 trillion.
With today’s loss on the Nigerian Stock Exchange (NSE) current market Year-t-Date (Y-t-D) returns stands at a negative 5.53 percent, while the Week-to-Date (W-t-D) return dropped to 0.35 percent.
This is coming on the heels of sell-offs witnessed in the Financial Services and Consumer Goods sectors overwhelmed demand in the Agriculture, Oil/Gas and Industrial sectors, according to Cordros daily market update.
The update says two (2) of the five (5) NSE sector indices returned to positive. “The Oil/Gas index topped the gainers’ chart with a 0.70 percent appreciation, while the Industrial index also added 0.18 percent,” Cordros affirmed.
On the contrary, the report said the Consumer Goods index recorded the worst performance with a 1.29 percent decline, the Insurance index followed with a 1.12 percent drop, while the Banking index also fell by 0.27 percent.
At the close of today’s session on the Nigerian bourse, market breadth posted a negative outlook recording 23 gainers and 29 losers. Soap maker PZ Cussons Nigeria Plc topped the gainers chart with a gain of N1.52 per share, while Transcorp Hotels Plc emerged top loser with a loss of 0.84 kobo per share.
In terms of turnover, the Cordros update affirmed that activity level was low at the close of business as volume traded declined by 42.29 percent to 186.73 million shares valued at N1.77billion and traded in 3,257 deals.
“We expect investors to continue trading with caution,” the report added.

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