Nigeria Equities Market Index Sheds 0.08% Amid Sustained Bearish Activity

The local bourse resumed the week on Monday in red territory as the All-Share Index (ASI) moderated by 0.08 per cent to close at 40,154.09 points; hence, the year-to-date loss of the NSE ASI further moved into negative zone of -0.29 per cent.

Also, the number of losers (25) outnumbered the gainers (20) amid negative investors’ sentiment.

Specifically, sell pressure persisted as share prices of tickers such as WAPCO, UNILEVER, Fidelity Bank and UACN declined by 8 per cent, 2.51 per cent, 3.23 per cent and 0.62 per cent respectively. Sectorial performance was also weak as three out of the five indices tracked closed southwards: the NSE Insurance, NSE Consumer Goods and NSE

Industrial indices fell by 0.13 per cent, 0.08 per cent and 0.55 per cent respectively.

On the positive side, the NSE Banking and NSE Oil/Gas indices rose by 0.10 per cent and 0.08 per cent respectively.

Meanwhile, trading activity was mixed as total deals and value of stocks traded rose by 12.75 per cent and 23.01 per cent to 4,953 deals and N3.5 respectively.

The volume of stocks traded fell by 5.99 per cent to 0.28 billion units.