The equities market sustained its bearish run, as the NSE All Share Index pared by 1.95% settling the YtD return at -7.95%. However, volume and value of transactions advanced by 64.29% and 38.27% respectively. Market breadth, which was pegged at 0.46x, indicates thirteen (13) advancers and twenty-eight (28) decliners.
Glaxosmithcline (+5.00%), CAP (+5.00%), Airservice (+4.89%), Eterna (+4.35%) and Unitybank (+3.33%) emerged as the highest gainers at the end of today’s trading session. Conversely, Champion (-9.47%), UACN (-5.00%), FO (-5.00%), WAPCO (-4.99%) and OkomuOil (-4.89%) were the top laggards for the day.
All the NSE indices save for the NSEFBT10 (+0.52 %), recorded declines at the close of today’s trading. The Industrial goods, Oil & Gas, Banking and Insurance sectors returned -4.47%, -1.26%, -1.22% and -0.42% respectively.
As expected, the equities market witnessed yet another day of shedding. Amplifying the generally frail market mood yesterday, was the significant price depreciation witnessed by Dangotecement. However, analysts anticipate a flurry of bargain-hunting activities during the course of the week, although they are not optimistic about the market upturning yesterday’s losses this week.