Equity market sheds 0.46%, extends bearish position

 

The equity market on Tuesday shed 0.46 percent, extending yesterdays bearish position. Similarly, market breadth closed at negative, recording 15 gainers and 26 losers.
In summary, the All Share Index (ASI) shed 174.20 absolute points, representing a decline of 0.46 percent to close at 37,783.76 points. Similarly, the Market capitalization shed N61.97 billion, representing a decline of 0.46 percent to close at N13.45 trillion.
With the exception of NSE Insurance Index and NSE Alternative Securities Market (ASeM) Index which maintained its horizontal stance, all other sector performance indices closed in the red zone.
The downturn was impacted by losses recorded in medium and large capitalized stocks, amongst which are; Dangote Sugar Refinery Plc, Ecobank Transnational Incorporated Plc, Forte Oil Plc, FBN Holdings Plc, Union Bank of Nigeria Plc, Dangote Flour Plc, Zenith Bank Plc, Dangote Cement Plc, Flour Miller Nigeria Plc, Guaranty Trust Bank Plc, Nigerian Breweries Plc, and Lafarge Africa Plc.
However, livestock Plc top the gainer’s chart today followed by Unilever Nigeria Plc, Eterna Plc, AIICO Insurance Plc and Jaiz Bank Plc.
Transnational Corporation of Nigeria Plc, FBN Holding Plc, Zenith Bank Plc, and GuarantyTrust Bank Plc were the top traded stocks in terms of volume while Zenith Bank,GuarantyTrust Bank, FBN Holdings, Transnational Corporation of Nigeria and Dangote Sugar Refinery occupied the top five slots on the value-based charts.
Sequel to the negative NSEASI change, trade volume decreased by 13.63 percent to close at N643 million while trade value also dwindled by 99.58 percent to close at N5.43 billion.