Nigerian stock falls by 0.01% amid sustained bearish activity

Trading on the floor of the Nigerian Exchange Limited moderated marginally as the All-Share Index dropped by 0.01 per cent to 39,303.09 points.

Amid sustained bearish activity on Wednesday, the market capitalisation likewise fell by 0.01 per cent to close at N20.57tn as the investors lost N1.86bn.

At the close of the day’s trading, 23 stocks declined against 19 stocks that gained, while the year-to-date loss of the ASI rose to -2.40 per cent.

Mid and large capitalised stocks such as Guinness Nigeria, Ardova, PZ Cussons Nigeria, Guaranty Trust Bank and Lafarge Africa moderated by 575 per cent, 3.24 per cent, 7.41 per cent, 0.48 per cent and 0.44 per cent respectively.

Sectoral performance was weak as three out of the five indices tracked closed in the red zone.

The banking, insurance and consumer goods indices dropped by 0.20 per cent, 1.60 per cent and 0.10 per cent respectively.

While oil and gas index rose by two per cent, the industrial index closed flat.

Trading activity reverted Tuesday’s performance as total deals, volume and value of stocks traded rose.

The total volume of stocks rose by 69.04 per cent to 259.51 million units, valued at N1.91bn in 3,547 deals.

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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