Stock Market Decline further 0.39% as Investor’s Sell-off Persist
Transactions on the Nigeria Equity Market today (Tuesday) closed on a negative note to extend the losing streak to four consecutive trading session, as market performance indices (NSE-ASI and Market Cap) dropped by 0.39%. The negative performance was driven by profit-taking in some recently appreciated stocks like GUINNESS, UACN, Buacement among others.
However, the market breadth closed negatively, recording 21 losers against 14 gainers.
In summary, the All-Share Index (ASI) declined by 150.13 absolute points, representing a decrease of 0.39%to close at 38,766.61 points. While the overall Market Capitalization value lost N78.53 billion, representing a decrease of 0.39%to close at N20.28 trillion.
MRS emerged as the top loser (by percentage points) for today, with a price depreciation of -9.92%, while ETERNA emerged as the top gainer (by percentage points) with a price appreciation of +9.91%.
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Today’s market loss was driven by price depreciation in large and medium capitalized stocks amongst which are; MRS (-9.92%), STERLNBANK (-8.65%), GUINNESS (-8.08%), GUARANTY (-3.34%), AIICO (-3.20%), OANDO (-3.13%), INTBREW (-1.72%), UACN (-1.52%), BUACEMENT (–1.09%), AFRIPRUD (-0.94%), ZENITHBANK (-0.90%), UNILEVER (-0.75%), UBA (-0.71%), and WAPCO (-0.15%).
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