NSE ASI Down 0.79% As Bears Tighten Grip

The Nigeria Stock Exchange on Wednesday closed southwards by 79bps
for the fourth consecutive trading session as the bears walloped the
bulls – having registered 15 losers as against 12 gainers  at the end
of trading.
The year to date loss of local stocks exacerbated to 15.37 per cent
from 14.70 per cent.
Nestle, PZ and Dangote Cement also dwindled by 4.00 per cent, 1.22 per
cent, 10.00 per cent and 3.91 per cent respectively, dragging the NSE
Consumer Goods and NSE Industrial sectorial indexes down by 1.80 per
cent and 1.63 per cent respectively.
Meanwhile, the total values of equities trade increased by 191.55 per
cent to N7.40 billion; similarly, the total volume of equities traded
ballooned by 217.86 per cent to 591.04 million units. Elsewhere, NIBOR
rose across tenure buckets amid renewed squeeze in the financial
system liquidity while NITTY moved in heterogeneous directions across
maturities tracked.