NSE: Equities losses moderates at -0.03%, as investors lose N4.1bn

On Tuesday, the domestic equities market sustained its lacklustre performance, amidst continued risk-off sentiments and the absence of positive market catalysts, leaving investors with N4.1 billion loss.

Consequently, the All-Share Index declined marginally by -0.03 per cent to 27,033.10 points. The Month-to-Date loss increased to -6.28 per cent, while the Year-to-Date return moderated to 0.71 per cent.

The total volume of trades decreased by 43.66 per cent to 241.71 million units, valued at NGN3.55 billion and exchanged in 4,456 deals. Zenith Bank PLC was the most traded stock by volume at 43.32 million units, while Guaranty Trust Bank Plc was the most traded by value at N1.04 billion.

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On sector performance, significant losses recorded in the insurance at 2.01 per cent and Consumer Goods at 0.38 per cent indices masked the 0.11 per cent gains in Banking at index; the Industrial Goods and Oil & Gas indices closed flat.

Market sentiment, as measured by market breadth, was negative, as 19 stocks declined, relative to eight gainers. Law Union and Cadbury Nigeria topped the laggards list by ten per cent and 9.76 per cent respectively, while NPF Microfinance Bank and AIICO Insurance were the top gainers for the day with ten per cent increase in their stock value.

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