The Nigerian Equities market maintained negative stance on Thursday, bringing the All-Share Index down by 0.09 per cent to close at 68,271.14 basis points.
At the Nigerian Exchange Limited (NGX), bearish sentiment in MTN Nigeria Communication, Access Holdings and FBN Holdings having gained 0.41 per cent, 1.74 per cent and 0.88 per cent, overturned the gains, causing the drag in the market.
Consequently, the Month-to-Date and Year-to-Date returns printed +2.6 per cent and +33.2 per cent, respectively.
Equities investors, therefore, lost N35.34 billion from their cumulative investment as the market capitalisation settled lower at N37.37 trillion at the end trading activities at the local bourse
As measured by market breadth, market sentiment was negative, as 30 tickers lost relative to 20 gainers. On the performance board, Oando and Lasaco Insurance topped the losers’ list having depreciated by 9.9 per cent and 9.7 per cent, respectively, while John Holt and Daar Communication recorded the most significant gains of the day after their respective share prices appreciated by 9.6 per cent and 9.5 per cent.
Sectoral performance was however mixed, as the Insurance, Oil & Gas, and Consumer Goods indices recorded gains by 0.3 per cent, 0.2 per cent and 0.1 per cent, respectively, while the Industrial Goods index closed flat. The Banking index was the sole loser of the day having declined in value by 0.5 per cent.
Despite the bearish outing, activities at the local bourse on Thursday was impressive as analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 8.03 per cent. A total of 1.12 billion shares valued at 5.82 billion were exchanged in 7,949 deals.
Oando led the volume and value charts with 100.69 million units traded in deals worth N1.46 billion.
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