Nigeria’s equities market Monday sustained its descent as the benchmark index dipped by 0.45% to 26,866.41 points, following investors’ sell-offs of Nestle, Dangcem, and Seplat.

Hence, the Month-to-Date and Year-to-Date return worsened to -2.77% and -14.25%.

Nevertheless, the total volume of trades increased by 9.24% to 151.71 million units, valued at NGN1.50 billion and exchanged in 2,854 deals. FCMB was the most traded stock by volume at 55.67 million units while Nestle was the most traded by value at N486.07 million.

Analysing by sectors, losses were evident across board, with the exception of the Industrial Goods (+0.10bps) index, as the Oil and Gas (-4.18%), Consumer Goods (-1.18%), Insurance (-0.22bps) and Banking (-0.13%) indices all declined.

Market Sentiment, as measured by market breadth, was positive at (1.06x) as 17 tickers recorded gains relative to 16 losers. Courtville (+10.00%) and Afriprud (+9.94%) topped the gainers’ list while Cornerst (-10.00%) and Seplat (-6.85%) recorded the largest declines.

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