The NSE All Share Index, began the week on a dull note, after declining by 0.35% to peg the Year-to-Date return at -6.13%. Also, Volume and value of transactions declined by 24.24% and 4.64% respectively. Market breadth settled at 0.56x, indicating ten (10) advancers and eighteen (18) decliners.
Eterna topped the advancers’ list at the close of trades today, appreciating by 9.90% to settle at NGN3.22. The counter was followed by Livestock (+8.22%), NPF Microfinance (+4.81%), Airservice (+4.72%) and Ikeja Hotels (+4.71%). On the flip side, CCNN (-5.54%), Sterling Bank (-4.82%), AIICO (-4.76%), CONTINSURE (-4.67%) and MANSARD (-4.55%) emerged as the top losers of the day.
All NSE indices closed in the red zone with the NSEBNK10 (-1.45%), NSEINS10 (-1.43%), NSEIND (-0.18%) and NSEOILG5 (-0.06%) recording the lowest daily returns.
The bearish mood which permeated the market last week was sustained yesterday, as there was no positive news inflow to stir the market otherwise. Market watchers attribute the negative sentiment to intense profit-taking on some large cap stocks. While they expect this to continue for the rest of the week, they do not rule out the possibility of buy sentiments towards counters which have shed value significantly in recent weeks.