Bearish Trend Sustains Hold On Market As Investors Stake N7bn In Equities

The Nigerian Stock Exchange was on Wednesday rocked by the bearish trend as the All Share Index fell by 124.25 basis points or 0.37 per cent from 33,602.67 to close at 33,478.42 basis points.

Trading activities in the Nigerian bourse dipped further on Wednesday, June 17, as the All-Share Index (ASI) depreciated when investors exchanged 204.984 million shares valued at N7.40 billion in 3,696 deals.

Specifically, the NSE ASI fell by 124.25 basis points or 0.37 per cent from 33,602.67 to close at 33,478.42 basis points.

Also, the market capitalization of the listed equities dipped by N42 billion to close at N11.428 trillion as against the N11.470 trillion on Tuesday, June 16. Wednesday’s loss led to an expansion of the year-to-date loss to 3.40 per cent.

Sectoral indices showed that the Consumer Goods Index was the sole gainer with a marginal increase of 0.15 per cent. On the other hand, the Oil & Gas Index recorded the highest loss with 0.73 per cent while the Industrial Goods and Banking indices followed with 0.55 per cent and 0.49 per cent drops respectively.

In addition, the Insurance Index plunged the least with 0.04 per cent.