Bearish sentiments persisted in the Nigerian equities market as sell pressures in OANDO which led to the shedding 9.7 percent caused a 0.3 percent decline in the benchmark index to 107,785.79 points from 108,126.97 points recorded on Monday.
Consequently, the Month-to-Date and Year-to-Date returns settled at 3.2% and +4.7%, respectively due to sustained selloffs across many other heavyweights stock like AFRIPRUD, UCAP, NASCON, UACN, BERGER, FIDELITY, ZENITH, GTCO, ACCESSCORP, UBA, LAFARGE and ARADEL which shed 9.69 percent 3.89 percent, 3.37 percent 2.08 percent, 1.33 percent, 1.10 percent, 0.83 percent, 0.79 percent, 0.58 percent, 0.54 percent, 0.13 percent, and 0.12 percent respectively alongside 34 others.
Consequently, Investors lost N215.11bn, with market capitalisation closing at N67.17trn.
The total trading volume decreased by 1.7 percent to 351.53 million units, valued at N9.81 billion, and exchanged in 13,546 deals. ACCESSCORP was the most traded stock by volume at 36.85 million units, while ARADEL was the most traded stock by value at N1.59 billion, respectively.
Sectoral performance was bearish as four sectors recorded losses, including; Insurance 3.5 percent, Oil & Gas 1.0 percent, Banking 0.6 percent, and Consumer Goods 0.2 percent indices declined. The Industrial Goods index remained unchanged.
As measured by market breadth, market sentiment was negative (0.3x), as 47 tickers lost relative to 12 gainers. HONYFLOUR 10.0 percent and MORISON 10.0 percent led the losers, while NGXGROUP, and REDSTAREX were up by 10.0 percent and 9.6 percent respectively, recording the highest gains of the day.
