Investors lost N28.65bn on equities amid sell pressure 

Nigeria’s equities market started February’s trading session on a negative note, as the Nigerian Stock Exchange All-Share Index contracted by 0.13 per cent to close at 42,357.90 points.

Similarly, the market capitalisation dipped by 0.13 per cent or N28.65bn to close at N22.16tn.

Hence, the year-to-date gain of the NSE ASI fell to 5.18 per cent despite posing 35 gainers as against 28 losers.

Specifically, blue-chip stocks such as Nestle Nigeria Plc, Zenith Bank Plc, and FBN Holdings Plc moderated by 3.65 per, 0.18 per cent, and 1.32 per cent, respectively amid sell pressure.

Performance across sub-sector gauges tracked was mixed as two out of the five indices tracked closed positive while the rest moved in different directions.

The insurance and oil and gas indices rose by 0.37 per cent and 0.22 per cent.

But, while the banking and consumer goods indices fell by 0.08 per cent and 1.03 per cent, the industrial index closed flat.

Meanwhile, activity in the market was weak as total volume and value of stocks traded moderated by 12.40 per and 8.61 per cent to 0.58bn units and N6.02bn.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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