Equities market closes flat as investors stakes N3.1bn

The domestic market closed flat, on Wednesday, as trading activities were weak as investors exchanged 218.4 million shares worth N3.14 billion in 3,896 deals.

This represents 59.24 per cent and 37.46 per cent decline in total volume and value of stocks traded when compared to previous day outing.

At the end of Wednesday’s trading session at the Nigerian Stock Exchange (NSE), the All-Share Index (ASI) closed flat at 28,344.04 basis points despite the positive performance of 14 gainers against 11 losers.

Hence, the year to date gain of the NSE ASI remains unchanged at 5.5 per cent.

Despite the unimpressive trading session, the stocks of Guinness Nigeria, Guaranty Trust Bank, Wapco Insurance and Ecobank Transnational Incorporation closed higher by 3.33 per cent, 1.52 per cent, 2.06 per cent and 1.16 per cent respectively amid investors’ demand.

However, performance across sub-sector failed to mirror the market performance as four out of five indices tracked closed in green except the NSE Oil/Gas which fell by 0.17 per cent.

The NSE Banking, NSE Insurance, NSE Consumer Goods and NSE Industrial indices advanced by 0.40 per cent, 0.60 per cent, 0.21 per cent and 0.15 per cent respectively.

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Equities market closes flat as investors stakes N3.1bn