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Nigerian equity market decline enters fifth trading day

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Nigerian Stock Exchanging in trading session

The bearish trend in the Nigerian the equity market extended to five straight trading sessions on Wednesday, causing the All Share Index (ASI) to decline by 0.13 per cent compared to the previous day’s.

All the indices were in the red save for the Banking sector, which defiled the market negative trend.

ASI shed 41.48 absolute points, representing a decline of 0.13 per cent, to close at 31,040.84 points. Similarly, Market Capitalization lost N15.47 billion representing a dip of 0.13 per cent, to close at N11.58trillion.

NIGERINS gained 9.52 per cent to emerge the top gainer among 13 other gainers, while CUTIX shed -9.76 per cent to top 22 other losers.

The downtrend was impacted by losses recorded in medium and large capitalized stocks, amongst which are; CADBURY (-8.33%), OANDO (-4.27%), PZ (-3.23%), ETI (-2.17%), NESTLE (-1.74%), STANBIC (-1.67%), NB (-0.71%), FBNH (-0.61%), UNILEVER (-0.52%), and GUARANTY (-0.14%) (GTI)