Equities market decline further by 0.58%
By NEGATIVE trends persist in the Nigerian Stock Exchange (NSE) as major market indicators shed 0.58 per cent at the end of equities trading on Wednesday.
Specifically, the NSE All-Share Index depreciated by -0.58 per cent to close at 36,748.18 basis points as against -0.81 per cent depreciation recorded previously, thus leaving its Year-to-Date (YTD) returns currently standing at -3.91 per cent.
Similarly, market breadth closed in favour of the bear with 20 gainers against 23 losers.
All sectoral indices closed in a mix. While the Insurance, Consumer and Goods, ASEM and Lotus Islam appreciated by 1.32 per cent, 1.06 per cent, 0.25 per cent and 0.14 per cent respectively; other indices lost with Banking losing two per cent, Oil and Gas, -1.20 per cent and Industry, -0.52 per cent.
A total of 181 million shares in terms of volume were traded on Wednesday as against previous close of 203 million units amounting to 11.05 per cent decrease.
The value followed suit with 31.29 per cent decrease value closed at N1.64 billion as against the previous close of N2.39 billion.
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In order of appearance, Transnational Corporation, Zenith Bank, Fidelity Bank, Oando and Access Bank end the trading day as top performers in terms of volume while Zenith Bank, Guaranty Trust Bank, Nestlé Nigeria, Access Bank and FBN Holdings made up the top five performers in terms of the value of units traded.
Analysts believed the closure of the NSE indices in a mix indicated improvement in market activities, thus hoping for further upspring from the participation of various stakeholders in the market.
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