Stock Market Index Falls By 0.12% Amid Sustained Bearish Activity

The Nigerian Stock Exchange, NSE, All Share Index (ASI)on Thursday,  declined marginally by 0.12 per cent amid sustained profit taking activity.

However, the number of gainers (9) outweighed the number of losers (8) at the close of trade. Consequently, the year to date loss of the NSE ASI rose to 8.25 per cent.

Share Prices of Tickers such as MTNN, ZenithBank and FBNH, LINKASSURE moderated by 0.42 per cent, 1.52 per cent, 0.94 per ceny and 9.43 per cent as investors booked profit.

Hence,  the NSE Banking and NSE Insurance moderated by 0.18 per cent and 0.34 per cent respectively. However, the NSE Consumer Goods, NSE Oil/Gas and NSE Industrial closed flat as most of their respective share prices remain unchanged.

Meanwhile, market activity was weak as the volume and value of  stocks traded moderated by 31.16 per cent and 15.24 per cent to 0.13 billion units and N1.96billion respectively. Elsewhere, NIBOR rose for all tenor buckets  amid renewed liquidity strain; however, NITTY declined for most maturities. In the OTC bonds market, the values of FGN bonds were flattish for most maturities tracked; however, FGN Eurobond rose for most maturities tracked.