The bears continued to dominate on the domestic bourse as the benchmark index declined by 0.15% to 29,818.80 points, following sustained selloffs in large cap stocks.
Thus, the Month-to-Date and Year-to-Date losses increased to 4.17% and 5.27% respectively.
On sectoral performance, losses were evident across all sector indices, save for the Banking (+1.34%) index, as the Industrial Goods (-0.83%), Oil & Gas (-0.65%), Consumer Goods (-0.41%), and Insurance (-0.30%) indices closed negative.
Notable stocks include ETI (+7.84%), WAPCO (-4.02%) SEPLAT (-3.19%), Nestle (-1.41%) and Mansard (-6.28%).
Market breadth was positive, with 21 gainers and 19 losers, led by FO (+10.00%) and PRESTIGE (-9.09%) respectively.
Total volume of trades decreased by 57.64% to 2.91 billion units, valued at NGN 67.89 billion and exchanged in 3,441 deals.
Experts outlook for equities in the short to medium term remains conservative, amidst absence of a positive catalyst. However, stable macroeconomic fundamentals remain supportive of recovery in the long term.

Leave a Reply