Local Equities Market Extends Loss as NSE ASI Dips 0.35%

Local Equities Market Extends Loss as NSE ASI Dips 0.35%

The Nigerian equities market dwindled by 0.35 per cent amid sustained bearish momentum having registered 26 laggards as against 19 gainers at the end of Wednesday’s trading session. Consequently, the year-to-date loss of local equities further worsened to 14.76 per cent from 14.48 per cent.

Tickers such as Access Bank, UNILEVER, OANDO and Dangote Cement shed 3.76 per cent, 1.84 per cent, 9.09 per cent and 0.28 per cent respectively, dragging the NSE Banking, NSE Consumer Goods, NSE Oil & Gas and NSE Industrial sectored gauges lower by 0.49 per cent, 0.20 per cent, 1.07 per cent and 0.08 per cent respectively.

Meanwhile, the total naira votes plunged by 52.18 per cent to N1.48 billion as did the total volume equities traded which declined by 9.58 per cent to 189.86 million units. Elsewhere, NIBOR moved in mixed directions.

Similarly, in the T-bills secondary market it was a mixed bag of activity as NITTY moved heterogeneously. In the bonds market, the values of OTC FGN

papers were flattish for most maturities tracked; however, FGN Eurobond prices fell across maturities tracked amid sustained bearish activity.


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