The Nigerian stock market resumed trading activity this week in a negative territory, as the All-Share Index moderated by 1.66 per cent to close at 38,507.33 points.
Investors lost N339.82bn amid sell pressure, as the market capitalisation that opened at N20.41tn dropped to N20.07tn.
While the year-to-date loss of the ASI worsened to -4.37 per cent, 26 companies’ stocks declined against 19 stocks that appreciated.
Investors’ sentiment were bearish on the consumer goods sector as the share prices of Okomu Oil Palm, Presco, UAC of Nigeria and Flour Mills of Nigeria fell by 9.44 per cent, 2.50 per cent, 2.06 per cent and 1.00 per cent respectively.
Also, the share price of Airtel Africa fell by 10 per cent at the close of trade.
Sectoral performance was positive as three out of five sub-sector tracks closed in the green zone.
As the banking, insurance and oil and gas indices rose by 0.16 per cent, 0.41 per cent and 0.13 per cent respectively, the consumer goods index declined by 0.18 per cent while the industrial index closed flat.
Trading activity was upbeat as total deals, volume and value of stock traded rose.
At the close of Tuesday’s trading session, the total volume of stocks rose by 2.86 per cent to 297.34 million units, valued at N3.65bn in 4,402 deals.
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