The equities market today closed the first trading session of week on a negative note as the benchmark index declined by 0.31% to 31,042.32 points, driven by sell-off across major counters.
Thus, the Month-to-Date and the Year-to-Date losses increased to 2.13% and 1.24%, respectively.
On sectoral breakdown, all sector indices closed negative, with the Industrial Goods (-1.64%) index leading the pack, followed closely by the Insurance (-0.97%), Banking (-0.78%), Oil & Gas (-0.74%), and Consumer Goods (-0.20%) indices, respectively.
Notable stocks include Dangote Cement (-0.63%), NEM (-6.00%), Zenith Bank (-2.49%), OANDO (-3.45%), and Nascon (-5.00%).
Market breadth was negative, with 19 losers and 12 gainers, led by Academy (-8.33%) and Red Star Express (+10.00%) shares, respectively.
Total volume of trades decreased by 27.03% to 168.72 million units, valued at NGN3.75 billion, and exchanged in 3,048 deals.
Market watchers reiterate rheir negative outlook for the equities market in the short-to-medium term, amidst absence of a positive market trigger. They however state that positive macroeconomic fundamentals remain supportive of recovery in the long term.