Equities Market Extends Losses by 0.09%, Dips N48.86bn

The equities market of the Nigerian Exchange Limited on Tuesday extended its losing streak, shedding 0.09 per cent as investors lose N48.86 billion.

The domestic bourse, yesterday continued the downward trend as the benchmark index gave up 9bps to close at 99,217.60 points.

Sell pressure in blue-chip ZENITHBANK (-1.81%), UBA (-1.14%) and ACCESSCORP (-0.27%) were the primary drivers of the drag on the overall market’s performance, outweighing gains in GTCO (+0.23%), FBNH (+0.50%) and TRANSCORP (+3.75%).

Consequently, the year-to-date (YTD) dipped to 32.69 per cent, while the market capitalization shed N48.86 billion to close at N56.13 trillion.

Analysis of yesterday’s market activity showed that trade turnover settled 68.09 per cent lower than the previous session, with 361.57 million shares valued at N6.16 billion in 8,511 transactions. TRANSCORP led the volume chart with 47.51 million units traded, while GTCO led the value log in deals worth N1.65 billion.

Market breadth closed positive at a 1.09-to-1 ratio with advancing issues outnumbering the declining ones. OKOMUOIL (+10.00%) topped twenty-four (24) others on the leader’s table while OANDO (-9.75%) led twenty-two (22) others on the laggard’s log.