Amid insignificant buy interests in few banking and insurance counters, the Nigerian equities market closed in the negative territory on Tuesday, no thanks to consumer goods, oil & gas, and industrial stocks. Seventeen (17) stocks declined as against 15 advancers.
The benchmark performance index of Nigerian Exchange (NGX) Limited decreased further by 0.29percent at the close of trading.
The record decline supported the market’s negative return this year, now at -4.14percent. This week, the market has decreased by 0.68percent while this month it has dipped by 1.14percent.
At the close of trading session on the Nigerian Bourse, the All Share Index (ASI) decreased from day open high of 38,712.55 points to 38,601.83 points on April 13.
“As investors continue to observe the Nigerian market ahead of key earnings publications and economic growth indicators, we foresee further mixed activity”, said Lagos-based Vetiva research analysts, who also expect profit taking and cherry picking to be the main drivers of price movements in the coming sessions.
