Nigerian Equities Market Wanes 0.06% Amid Sustained Sell-offs

The bears continued to dominate the market on Thursday as the benchmark index dipped by 0.06 per cent to 26,583.75 points. Consequently, the Month-to-Date and Year-to-Rate return worsened to -3.79 per cent and -15.42 per cent.

 The total volume of trades declined 38.54 per cent to 363.26 million units, valued at N19.02 billion and exchanged in 2,650 deals. Dangote Cement was the most traded stock by volume and value at 114.68 million units and N16.63 billion respectively.

 A look at sectorial figures show bearish sentiments were witnessed across the board, as the Insurance (-1.17 per cent), Banking (-0.24 per cent), Consumer Goods (-0.07 per cent) and Industrial Goods (-0.01 per cent) indices all recorded losses.

 Also, the Oil and Gas index closed flat.

 Market sentiment, as measured by market breadth, was negative as 15 tickers recorded declines relative to 8 gainers. WAPIC (-8.57 per cent ) and Link Assure (-7.84 per cent ) recorded the largest declines while Learn Africa (+9.82 per cent ) and Livestock (+9.30 per cent ) recorded the largest gains.