Equity Market Extends Bearish Trend Amid Nationwide Protest

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Investors on NSE started the week on a profit-taking mood, leading to NSE ASI to decline by 27bps, to close at 28,337.49 points, with the year-to-date return at +5.57% and market capitalization edging lower to N14.81 trillion. Market activity was tepid with locals seen on buy sides of most trades albeit on a less aggressive note.

Nigerian Bourse Extends Bearish Trend Amid Nationwide Protest
Nigerian Bourse Extends Bearish Trend Amid Nationwide Protest | www.brandspurng.com

Today’s downswing was influenced by MTNN NL which fell by -0.36% to N140.00 as ZENITHBA NL and GUARANTY NL fell by 25bps to N19.95 and 33bps to N30.30, respectively. On the flip side, ACCESS NL grew by 1.28% to N7.90.

Volume and value traded were -4.02% and -32.83% higher to 369.06 million units and N5.06 billion, respectively. The most traded stocks by volume were UBA NL (95.05 million units), GUARANTY NL (65.48 million units) and ZENITHBA NL (47.21 million units) while GUARANTY NL (N1.98 billion), ZENITHBA NL (N944.31 million) and UBA NL (N678.74 million) topped the value chart.

All sectors closed on a negative note save for the Oil & Gas sector which returned 136bps. Banking, Consumer Goods, Industrial, and Insurance sub-indices by 6bps, 91bps, 54bps, and 178bps respectively

Read Also:  Equity market halts bearish run as ASI records 0.16% gain.
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Market sentiment was negative as market breadth came in at 0.8x as there were 13 advancers and 16 decliners.

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Equity Market Extends Bearish Trend Amid Nationwide Protest - Brand SpurEquity Market Extends Bearish Trend Amid Nationwide Protest - Brand Spur
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Equity Market Extends Bearish Trend Amid Nationwide Protest - Brand SpurEquity Market Extends Bearish Trend Amid Nationwide Protest - Brand Spur

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