Equities market dip marginally by 0.05%

THE equities market fell under waters with a marginal loss of 0.05 per cent, as All Share index closed Wednesday trading session at 35,118.97 basis points.

With the dip, the Year-to Date return stood to 30.94 per cent as market capitalisation also closed at N12.234 trillion.

However, market breadth closed in positively as ratio stood at 1.20 with 24 gainers to 20 losers.

Also market activities inclined as volume traded closed upbeat by 212.50 per cent at 429 million from previous trading session of 137 million, while value increased from previous levels by 665.42 per cent from 1.13 billion to close at 8.68 billion.

Meyer, Access Bank, Transcorp, FCMB and Fidelity Bank topped the activities chart in terms of volume while GTBank, Access Bank, Jaiz Bank, FCMB and Zenith Bank topped the value’s chart to contribute majorly to today’s market worth.

NSEASI with all other sector indices swayed southward into red zone save for Banking sector that improved by 0.23 per cent, Insurance stocks at  0.19 per cent and Consumer Goods sector at 1.26 per cent as bargain hunting countered previous profit taking.

Analysts at APT Securities, however, expected the market to close negative Week-on-Week with respect to weight shedding so far during the course of the week.

“We expect anticipation for Q3 result to bolster investors’ sentiment and hopefully fiscal actions from the federal government will enhance investors’ confidence as well but in the meantime, the market will continue to ride on cautious trading,” they said.