Equities market further dips by 0.02 per cent on profit-taking

The domestic equities market, at the close of Tuesday’s trading session, declined marginally by 0.02 per cent amid sustained profit-taking activity, leaving the All Share Index (ASI) at 24,750.06 basis points.

Investors lost N2.02 billion as the market capitalisation depreciated to N12.91 trillion, even as the Nigerian Stock Exchange (NSE) recorded 23 losers as against nine gainers. Hence, the year to date loss of the NSE ASI worsened to 7.79 per cent.

Similarly, the NSE Consumer goods led the laggards as its index dropped by 1.4 per cent due to sell pressure witnessed on Dangote Sugar, Nigerian Breweries and PZ, their respective share prices moderated by 9.85 per cent, 2.70 per cent and 8.16 per cent.

Also, the NSE Banking, NSE Insurance and NSE Industrial indices dipped by 0.60 per cent, 1.27 per cent and 0.18 per cent respectively.

On the flip side, the NSE Oil/Gas index rose by 0.22 per cent.

Meanwhile, market activity was upbeat as the volume and value of stocks traded rose by 34.70 per cent and 17.41 per cent to 0.16 billion units and N1.5 billion respectively.

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