Bearish sentiments persisted in the domestic equities market, following profit taking on MTN Nigeria and WAPCO stocks.
Consequently, the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) declined by 0.4 per cent to 39,522.06 basis points. Consequently, the Month-to-Date and Year-to-Date losses increased to -0.7 per cent and -1.9 per cent, respectively.
Market sentiment as measured by market breadth remained negative as 29 tickers declined, relative to 16 gainers.
On the performance chart, NEM Insurance and Champion Breweries topped the losers’ list with respective 9.9 per cent and 9.8 per cent, while Seplat and AIICO Insurance recorded the largest gains of the day having appreciated by 20 per cent and 5.2 per cent respectively.
Performance across sectors was broadly negative, following losses across the Insurance, Consumer Goods and Industrial Goods indices. The Oil & Gas index was the lone gainer of the day while the Banking Index closed flat.
Activity ay the local bourse however went uptick as the total volume traded increased by 9.8 per cent to 244.34 million units, valued at N4.13 billion, and exchanged in 4,714 deals.
Zenith Bank was the most traded stock by volume and value at 41.38 million units and N1.06 billion, respectively.
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