Market Declines Marginally by 0.09% Amid Sustained Bearish Activity
By Our Correspondent
The Local Bourse All Share Index (ASI) fell lower by 0.09 per cent amid sustained profit taking activity even as the Exchange printed 22 losers as against 13 gainers at the close of trading session.
Hence, the year to date loss of the NSE ASI rose to 7.12 per cent.
Market sentiment remained negative as sell pressure on counters such as FLOURMILL, MTN, ZENITHBANK and ARDOVA moderated; their respective share prices fell by 6.68 per cent, 0.86 per cent, 0.62 per cent and 4.51 per cent.
Similarly, the NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Oil/Gas plunged by 0.11 per cent, 2.09 per cent, 0.24 per cent and 0.57 per cent respectively.
On the positive side, the NSE Industrial index rose by 1.03 per cent.
Meanwhile, market activity was weak as the volume and value of stocks traded dwindled by 15.68 per cent and 1.47 per cent to 0.20 billion units and N1.5 billion respectively.
Elsewhere, NIBOR moved in mixed directions across tenor buckets; however, NITTY rose for most maturities.
In the OTC bonds market, the values of FGN bonds moved in mixed directions across maturities tracked; however, FGN Eurobond rose for most maturities tracked.
