Investors lose N46.1bn as equities market further declines by 0.3 per cent

Trading on the Nigerian Stock Exchange (NSE) follows previous day stance as it bows to profit-taking, on Thursday, as the benchmark index sheds 0.3 per cent.

Specifically, the All-Share Index (ASI) ended the session at 28,546.22 basis points as against an opening of 28,634.35 basis points.

Similarly, the equities market capitalisation lost NN46.07 billion having closed the market at N14.92 trillion as against an opening of N14.97 trillion. Accordingly, the Month-to-Date and Year-to-Date gain both moderated to 6.4 per cent.

Equities market sentiment, as measured by the market breadth, was however positive as 26 tickers gained relative to 17 losers with Eterna Oil and Unilever Nigeria topping the gainer’s chart with ten per cent and 9.8 per cent appreciation in their respective stock value, while Deap Capital and Mutual Benefit recorded the largest losses by ten per cent and 8.7 per cent respective decline in the price of their stocks.

Sectoral analysis of the day trade showed that the Banking and Insurance indices posted 2.9 per cent and 1.3 per cent respective gains, while losses were recorded in the Industrial Goods, Consumer Goods and Oil & Gas indices.

The total volume of trades declined by 31.6 per cent to 569.38 million units, valued at N4.91 billion and exchanged in 6,101 deals. Eterna Oil was the most traded stock by volume at 112.89 million units while Zenith Bank was the most traded stock by value at N1.51 billion.

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