Bears grip Nigerian bourse, ASI Index down 0.71%

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Bearish sentiments persisted in Nigeria’s bourse on Tuesday as the Nigerian All-Share Index and market capitalization declined further by 0.71% to 22,543.07 points and N11.747 trillion respectively, bringing YTD performance to -16.14%.

The activity level, however, surged as both volume and value of equities traded today rose by 22.56% and 40.03% respectively, to 675. 910 million shares valued at N8.059billion, in 7,368 deals.

Zenith Bank was the most traded stock by volume at 173.93 million units, followed by Guaranty Trust Bank plc. with 131.06 million units of trades. Market breadth index was positive as ACCESS & WAPCO (10.00%) led 27 gainers, as against 12 losers topped by DANGCEM (-10.00%).

(READ MORE: Stock market drops below N12 trillion mark, investors lose N456 billion on Thursday)

Performance across sectors closed mixed, as three out of the five indices closed Red. Renewed buying interest in Tier-one banking stocks, ACCESS (+10.00%), FBNH(+8.11%) and ZENITH BANK (+5.47%) placed the Banking index (+5.59%) as the best performing index, trailed by the Insurance index (+0.85%) on gains recorded in NEM (+5.33%), AIICO (+5.06%) and MANSARD (+3.03%).

DANGCEM (-10.00%) dragged the industrial sector by -2.16%, followed by the Oil & Gas and Consumer Goods indices dipping distantly by (-0.61%) and (-0.04% ) respectively, on ARDOVA (-9.80%) and INTBREW (-9.57%).

Top gainers 

WAPCO closed N 11.00 up 10%, NB closed at N20.00 up 7.33%  ZENITH BANK N13.50 up 5.47% , STANBIC closed N30.25 up 3.24  and ,MTNN closed N95.00 up 2.04 %

Top losers  

DANGCEM down 10%  to close at  N137.7, NASCON down 10% to close at  N8.55   ARDOVA down  9.80% to close 1.80   CAP down 9.77%  to close at N18.00   and INTBREW down 9.57%  to close at N5.20