Nigerian stocks drop further by 0.11%

Negative sentiment continued to dominate the Nigerian stock market on Wednesday leaving investors with a loss of N22.2bn.

The bearish run saw the domestic bourse All-Share Index moderate by 0.11 per cent to close at 37,804.46 points and the market capitalisation dropped further to close at N19.7bn.

The year-to-date loss of the ASI worsened to -6.12 per cent, as the shares of 23 companies declined relative to 11 that appreciated.

The share prices of Zenith Bank, Access Bank, UAC of Nigeria, AXA Mansard Insurance and Oando declined by 1.26 per cent, 2.34 per cent, 0.51 per cent, 3.33 per cent and 1.36 per cent respectively.

Sectoral performance remained weak as three out of the five indices tracked closed in the red territory.

The banking, insurance and oil and gas indices fell by 0.75 per cent, 0.51 per cent and 0.10 per cent respectively.

While the consumer goods index rose by 0.16 per cent, the industrial index closed flat.

At the close of the day’s trading session, total deals, volume and value of stock all fell.

The volume of stocks declined by 4.54 per cent to 208.35 million units, valued at N1.6bn in 3,365 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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