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Market Digest Nigeria

Finance

Equities market sustains losing streak to close 0.16%

Equities market

The Nigerian equities market Tuesday sustained losses from the previous trading session as the benchmark index dipped by 0.16 per cent to 27,047.58 points, following sell-offs in Nestle Nigeria Plc, Dangote Cement Plc and Cement Company of Northern Nigeria Plc.

The total volume of trades, however, increased by 25.38 per cent to 364.21 million units, valued at N4.86 billion and exchanged in 4,629 deals. For the second trading day, Guaranty Trust Bank Plc shares sustained highest traded stock by volume and value at 78.67 million units and N2.12 billion respectively.

On sector performance, the Banking sector index recorded 1.00 per cent as the sole gainer, while the Consumer Goods, Industrial Goods, Insurance, and Oil & Gas sectors indices recorded declines by -2.22 per cent, -1.61 per cent, -0.49 per cent and -0.19 per cent in that order. Market sentiment, as measured by market breadth, was positive as 18 tickers recorded gains relative to 12 losers.

Thomas Wyatt Nigeria Plc and Continental Reinsurance Plc topped the decliners list by -9.52 per cent and -7.36 per cent, while UACN Property Development Company Plc and FBN Holdings Plc recorded the largest gains by  9.62 per cent and 7.58 per cent respectively. Meanwhile, the naira traded flat against the US dollar at N360.00/USD in the parallel market, while it depreciated by 0.03 per cent to N362.18/USD at the importers-exporters (I&E) forex window.

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