Business
Nigerian equity market stretches downturn to three consecutive days
L – R shows Erelu Angela Adebayo, former First Lady of Ekiti State and National Council Member, The Nigerian Stock Exchange (NSE); Tinuade Awe, Executive Director, Regulation, NSE; Eme Essien, Country Director, International Finance Corporation (IFC); Lansana Wonneh, Deputy Country Representative, United Nation Women during the Closing Gong Ceremony in commemoration of the International Women’s Day (IWD) celebration at The NSE in Lagos on Friday.
The Nigerian equity market on Friday shed 0.27 per cent, extending its loosing streak to three consecutive trading sessions. The decline was driven by losses experienced in banking, consumer goods and industrial sectors of the market. Consequently, Market breadth closed negative, recording 14 gainers and 15 losers.
The All Share Index (ASI) declined by 85.55 absolute points, representing a decrease of 0.27 per cent, to close at 31,924.51 points. Similarly, Market Capitalization shed N31.91 billion representing a dip of 0.27 per cent, to close at N11.91trillion.
WAPIC emerged the top gainer while ACADEMY emerged as the top loser.
The downtrend was impacted by losses recorded in medium and large capitalized stocks, amongst which are; DANGFLOUR (-7.93%), NB (-4.03%), UBA (-1.29%), GUARANTY (-0.93%), FBNH (-0.61%), WAPCO (-0.38%) and DANGSUGAR (-0.34%).