NGX ASI Falls by 0.18% Amid Renewed Profit Taking Activity

The Domestic stock market index fell by 0.18 per cent to close at 47,202.30 as the bears finally took over the Exchange. Hence, the year-to-date gain of the local bourse fell to 9.87 per cent despite the Exchange printing a higher number of gainers (19) than losers (16).
Specifically, the share prices of NEM, INTERBREW, FBNH, GTCO, SEPLAT, ZENITHBANK, UBA, DANGSUGAR and NB declined by 6.48 per cent, 4.59 per cent, 3.86 per cent, 2.39per cent, 1.85 per cent, 1.82 per cent, 1.12 per cent and 0.10 per cent respectively.
Given the southward movement in the benchmark index, performance across sub-indices was largely negative except for the NGX Consumer Goods Index and the NGX Industrial Index which rose by0.10 per cent and 0.03per cent respectively.
The NGX Banking Index, NGX Insurance Index and the NGX Oil/ Gas Index fell by 0.95 per cent, 0.49 per cent, and 0.99 per cent respectively.
Meanwhile, market activity was rather strong today as the volume of stock traded rose by 57.23 per cent to N198.12 million; also, the value of stocks traded increased by 28.79 per cent to N4.39 billion – as investors sold more of blue-chip stocks.