Bellwether stocks drag Nigerian equity market down 0.35%

The Nigerian equity market extended its bearish sentiment, following price depreciation on the market bellwethers. Consequently, market breadth closed negative, recording 15 gainers and 16 losers.

The All Share Index (ASI) decreased by 98.13 absolute points, representing a dip of 0.35% to close at 27,990.61 points. Similarly, the Market Capitalization lost N47.82 billion, representing a decline of 0.35% and closed at N13.64 trillion.

FCMB emerged the top gainer while WAPIC emerged as top loser
The downtrend was impacted by losses recorded in large and medium capitalized stocks, amongst which are; WAPIC (-10.00%) OANDO (-5.00%), FO (-3.58%), TRANSCORP (-1.96%), FBNH (-1.77%), MTNN (1.57%), ACCESS (-1.50%) DANGCEM (-1.16%), CCNN (-0.80%) and ZENITHBANK (-0.54%).