The Nigerian equities market sustained losses from the previous trading session as the benchmark index dipped by 0.16% to 27,047.58 points, following sell-offs in NESTLE, DANGCEM
The local equities market moderated by 0.16% on sustained profit taking as investors’ negative sentiments persisted for two consecutive trading sessions, despite printing relatively more gainers – 18 Tickers appreciated, as against 12 at the close of business yesterday.
The year-to-date loss of the NSE ASI worsened to 13.95%. Meanwhile, we saw the total value of stocks traded increase by 13.
Analyzing sector performance, the Banking (+1.00%) index was the sole gainer, while the Consumer Goods (-2.22%), Industrial Goods (-1.61%), Insurance (-0.49%) and Oil & Gas (-0.19%) indices recorded declines.
Elsewhere, NIBOR moderated for most tenor buckets amid renewed ease in the financial system liquidity; however, NITTY increased for most maturities tracked on renewed sell pressure in the treasury bill secondary market. In the bond
market, values of the OTC FGN long term papers plummeted for most maturities tracked as did FGN Eurobonds for all maturities tracked.