The Nigerian equities market extended yesterday’s loss position, as the NSEASI shed 0.15% at the close of trading today, dragging the Year-to-date return to -11.11%. Contrarily, volume traded and value of transactions, advanced by 14.29% and 42.82% accordingly. There were eleven (11) gainers as against seventeen (17) decliners, indicating a market breadth of 0.65x.
CHAMPION led the gainer’s chart in the day, appreciating by 8.41% to close at NGN2.45. The ticker was followed by FLOURMILL (+5.00%), AFRIPUD (+4.91%), UNITYBNK (+3.57%) and MOBIL (+2.63%). Conversely, FO (-9.74%) pared the most, to close at NGN74.62. LIVESTOCK (-5.00%), TOTAL (-5.00%), NEIMETH (-4.88%), and NASCON (-4.77%) also made the top laggards list for the day.
Market performance, as measured by NSE-Sector indices, showed that NSEBNK advanced by 0.05%, while NSEIND and NSEINS10 traded flat. On the other hand, NSEOILG5 and NSEFBT10 declined by 2.54% and 0.02% accordingly.
Market watchers attributed yesterday’s market performance to sell offs in the oil and gas space, driven by the persistent negative market sentiments. It is expected that the market will again close negative this week.