The NSEASI maintained its losing streak, paring by 0.50% to settle the YtD return at -9.72%. Contrarily, the volume of transactions advanced by 17.91% while market turnover declined by 18.90% relative to the previous day’s trading. With 95 million shares traded, StandardInsurance emerged as the most actively traded stock in the market Tuesday. Nine (9) stocks appreciated in value while twenty-one (21) declined at the end of yesterday’s trading activities, indicating a market breadth of 0.43x
The highest gaining counters for the day include: CustodianInsurance (+4.96%) Airservice (+4.93%), NAHCO (+4.89%), NASCON (+4.87%) and Guaranty (+4.29%). On the flip side, WAPCO (-8.33%), Conoil (-4.99%), Oando (-4.89%), Transcorp (-4.82%) and International Breweries (-4.47%) featured on the underperformer’s chart.
Market performance, as measured by the NSE indices, reflected the generally negative sentiments in the market, as the NSEIND (-4.09%), NSEINS10 (-1.05%) and NSEOILG5 (-0.39%) indices recorded declines, while the NSEBNK10 and NSEFBT10 advanced by 1.33% and 0.02% accordingly.
In spite of the price recovery witnessed by some large-cap tickers, the equities market was awash with weak sentiments which were further pressed by the price depreciation on DANGCEM. Market watchers expect the rest of the week to be swayed by mixed investor sentiment, possibly skewed more towards bargain-hunting.