L-R: Corporate Affairs Officer (BEDC)- Mr. Ibeamaka Odoh; Bukola Adewoyin (Ekiti State); Chief Agency and Channels (BEDC)- Mrs Felicia Nlemoha and Friday Godwin(Edo State) at the send forth ceremony of the Special Olympics world summer games 2019 held at Vigeo Holdings Lagos State on Monday.

The Nigerian equities market today sustained its bearish run as the benchmark index dipped by 1.02% to 31,313.36 points, driven by sell-offs across major counters.

Accordingly, the Month-to-Date loss increased to 1.28%, while the Year-to-Date return was dragged into negative territory at -0.37%.

All sector indices, save for the Industrial Goods (+0.24%) Index – closed negative with the Banking (-2.26%) index leading the pack, followed closely by the Consumer Goods (-1.26%), the Insurance (-0.51%), and Oil & Gas (-0.37%).
Notable stocks include Lafarge (+4.00%), Guaranty (-4.83%), Intbrew (-9.93%), Linkassure (-7.44%), and Mobil (-3.00%).

Elsewhere, market breadth was negative, with 8 gainers and 29 losers, led by Intbrew (-9.93%) and Lawunion (-7.69%) shares, respectively.
Total volume of trades expanded by 70.9% to 219.37 million units, valued at NGN2.93 billion, and exchanged in 3,345 deals.

In the absence of a positive catalyst, as well as the still tense political milieu, market watchers guide investors to trade cautiously in the short term. However, they say stable macroeconomic fundamentals and compelling valuation remain supportive of recovery in the mid-to-long term.


Please enter your comment!
Please enter your name here