Sell pressure persists as NSEASI drops further by -0.45% — Nigerian Pilot News
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Sell pressure persists as NSEASI drops further by -0.45%



Nigerian Stock Exchange continued its bearish trend yesterday as NSEASI depreciated by 0.45% to close at 28,966.41 points as against 0.34% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -7.84%.

Market breadth closed flat as Beta Glas led 21 Gainers as against 21 Losers topped by Gold Link Insurance at the end of yesterday’s session- an improved performance when compared with previous outlook.

Market turnover closes negative as volume moved down by 24.51% as against 58.73%   uptick recorded in the previous session. UBA, Access Bank and Sterling Bank were the most active to boost market turnover. GTB and Zenith Bank topped market value list.
NCR leads the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

The market breadth index on Tuesday was negative with 32 losers compared to 11 gainers.
According to the report, Dangote Flour Mills Plc with a loss of -9.86 percent emerged the topmost loser, while Nigerian glass maker, Beta Glass Plc with a gain of +10.00 percent  led the gainers’ chart. 

The report says Courteville Business Solutions Plc with a gain of +8.33 percent was the most actively traded stock with about 106 million units of shares worth about  N26.8 million. 

The Nigerian Stock Exchange (NSE) Oil & Gas index shed 0.66 percent, majorly driven by the losses in the shares of Japaul Oil & Maritime Plc and Oando Plc; both lost -8.33 percent and -5.15 percent each, while Caverton Offshore Support Group Plc declined by -0.67 percent.

The NSE Banking index closed down by 0.54 percent following the decline in the shares of lenders, Fidelity Bank Plc and Union Bank of Nigeria Plc, both lost -4.21 percent and -2.14 percent apiece, Zenith Bank Plc and United Bank for Africa Plc dipped -1.67 percent and -1.49 percent respectively, while Wema Bank Plc depreciated by -1.37 percent.

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