NIgerian equity market extends downtrend, loses 0.37%

The Nigerian equity market on Wednesday declined by 0.37% to extend downtrend to two consecutive days as the earnings of companies continued to trickle in.

This decline was impacted by price depreciation on consumer goods and oil& gas sectors of the market. Market breadth closed at par, recording 20 gainers and 20 losers.

The All Share Index (ASI) decreased by 102.31 absolute points, representing a dip of 0.37% to close at 27,718.26 points.

Similarly, the Market Capitalization shed N50.71 billion, representing a decline of 0.37% and closed at N13.51 trillion.
JBERGER emerged the top gainer while UPL emerged as top loser.The downturn was impacted by losses recorded in large and medium capitalized stocks, amongst which are; DANGSUGAR (-9.26%), NB (-9.09%), ETERNA (-9.09%), OANDO (-3.90%), NESTLE (-2.27%), WAPCO (-0.68%), ZENITHBANK (-0.54%) and GUARANTY (-0.35%). (GTI)