Equities remained depressed today, as the NSEASI recorded its 4thconsecutive day of losses. The index pared by 0.08% to further trim the year-to-date return to -0.74%. The gainers overwhelmed the decliners, as 25 stocks appreciated against 21 stocks which pared to peg the market breadth at 1.19x. The volume traded declined by 30.18%, while market […]
Equities remained depressed today, as the NSEASI recorded its 4thconsecutive day of losses. The index pared by 0.08% to further trim the year-to-date return to -0.74%. The gainers overwhelmed the decliners, as 25 stocks appreciated against 21 stocks which pared to peg the market breadth at 1.19x. The volume traded declined by 30.18%, while market turnover appreciated by 8.66%.
ETI with a 10.19% gain emerged the top gainer during today’s trading, to close at NGN24.55. The ticker was closely followed by CILEASING, FIDSON, CAP and HONYFLOUR with the respective gains of 7.14%, 5.00%, 4.99% and 4.99%. Contrarily, UNITYBNK returned the highest loss in value for the 3rd time in the week, after it shed 9.54% to close at NGN2.75. Other top losers included ABCTRANS (-5.00%), GUINNESS (-4.99%), CCNN (-4.55%) and NASCON (-4.36%).
The NSE sector indices mirrored the previous day’s returns, as an equal number of indices traded northwards and southwards respectively. While the NSEBNK10 (+1.39%) and NSEOILG5 (+0.44%) indices advanced, the NSEFBT10 (-1.02%) and NSEINS10 (-0.36%) indices depreciated.
Markets across African also mirrored that of Nigeria, as most market indices traded southwards, save for Ghana and Mauritius which are currently trading in the green zone.
The absence of positive news flows remains a major drag to the market’s return performance, as investors continue to take profit on stocks which have appreciated recently. We anticipate that the negative sentiment might be sustained in the last trading day of the week, as many stocks are currently fully valued in our opinion, in spite of the accumulated trading days of losses.
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