Home Business Nigerian equity market downturn stretches to six consecutive trading days.

Nigerian equity market downturn stretches to six consecutive trading days.

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Nigerian Stock Exchanging in trading session

The Nigerian equity market on Thursday extended its negative sentiment to six successive trading sessions, as the All Share Index (ASI) declined further by 0.50% from yesterday’s position.

The decline was impacted by huge selloff in Oil & Gas and Banking sector while others closed positive. However, market breadth closed positive, recording 24 gainers and 15 losers.

The All Share Index (ASI) shed 115.53 absolute points, representing a decline of 0.50%, to close at 30,885.31 points. Similarly, Market Capitalization lost N58.00 billion representing a dip of 0.50%, to close at N11.52trillion.

SOVRENINS emerged the top gainer while CHAMPION emerged as the top loser.

The downtrend was impacted by losses recorded in medium and large capitalized stocks, amongst which are; SEPLAT (-5.43%), UCAP (-3.51%), FCMB (-2.04%), GUARANTY (-1.77%), STANBIC (-1.10%), ZENITHBANK (-0.90%), DANGCEM (-0.69%), and FIDELITYBK (-0.41%) (GTI)