Bearish sentiments hit eight sessions as equities investor further lose N28.3bn

Equities trading at the Nigerian Stock Exchange (NSE) sustains previous day’s bearish performance, to record its eighth consecutive loss.

Specifically, the All-Share Index(ASI) declined by 0.1 per cent to 41,510.16 basis points. following sell-offs of Zenith Bank, Guaranty Trust Bank and International Breweries as their shares declined by 0.8 per cent, 0.5 per cent and 2.6 per cent respectively.

Market’s worth, by the end of trading activities, on Tuesday, declined to N21.72 trillion after investors lost N28.33 billion from their investment.

Accordingly, the Month-to-Date loss increased to 2.1 per cent, while the Year-to-Date gain moderated to 3.1 per cent.

Market sentiment, as measured by market breadth followed previous day stance having closed positive as 23 tickers gained, relative to 22 losers.

On the chart, shares of Linkage Assurance and Morison topped the gainers’ list having appreciated by ten per cent respectively, while Northern Nigeria Flour Mills and NEM Insurance recorded the largest losses of the day after making 9.9 per cent and 9.2 respective loss.

Performance across sectors was broadly negative, as four out of our five indices reviewed closed in the red. Specifically, the Insurance index notched 1.7 per cent, Banking index lost 0.5 per cent, Oil & Gas depreciated by 0.3 per cent and Consumer Goods 0.3 per cent. The Industrial Goods index, however, closed flat.

Activity further remained tepid as the total volume of trades declined by 10.1 per cent to 305.93 million units, valued at N3.95 billion, and exchanged in 4,969 deals.

FBN Holdings was the most traded stock by volume at 47.76 million units, while Guinness Nigeria was the most traded stock by value at N732.33 million.

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However, Nigeria recorded fewer COVID-19 infections and deaths when compared to the previous week. It also recorded increased recoveries during the same period…Bearish sentiments hit eight sessions as equities investor further lose N28.3bn

Bearish sentiments hit eight sessions as equities investor further lose N28.3bn

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