Stock market extends losing streak as ASI closes at -0.09%

The Nigerian Stock Exchange (NSE) on Thursday recorded another bearish performance for the third consecutive trading session in spite of positive investors’ sentiment.

Today’s negative performance was triggered by sell pressure in bellwether stocks like Nigerian Breweries, Ecobank Translational Incorporated and Okomu Oil Palm.

At the close of trading, the key performance indicator of the NSE, the All-Share Index (ASI, which opened at 32,454.03 points, fell by nine (9) basis points to close at 32,423.57 points, while 19 stocks advanced against 18 that declined.

Specifically, market capitalisation of traded stocks shed N11.1 billion to close at N11.84 trillion, while year-to-date loss worsened to -15.27 percent.

Cutix was the highest gainer today, rising by 10 percent to close at N4.73 per share. Sovereign Trust Insurance trailed with a gain of 9.09 percent to close at 24 Kobo per share, while A.G Leventis Nigeria rose by 8.11 percent to close at 40 Kobo per share.

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Cement Company of Northern Nigeria (CCNN) appreciated by 7.76 percent to close at N25 per share, while First Aluminum Nigeria gained by 5.41 percent to close at 39 Kobo per share.

On the other hand, Niger Insurance Company led the laggards at the end of the trading session by dropping 9.68 percent to close at 28 Kobo per share. Neimeth International Pharmaceuticals shed 9.23 percent to close at 59 Kobo per share, while Royal Exchange lost 9.09 percent to close at 20 Kobo per share.

Equity Assurance fell by 9.09 percent to close at 20 Kobo per share, while R T Briscoe depreciated by 8.70 percent to close at 42 Kobo per share.

The total turnover of the market improved significantly when compared with the previous session as the volume and value traded equities increased by 10.69 percent and 7.83 percent to 151.35 million shares and N1.54 billion, respectively.

 

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