Equities trading on the Nigerian Stock Exchange (NSE) closed in the red zone on Wednesday October 2, 2019 due to persisting sell pressure on the Bourse.
As a result, investors books about N153billion loss which pushed the market’s Year-to-Date (YtD) returns further into the negative zone of -13.09percent. Only 11 stocks gained as against 24 losers.
In the absence of any positive events capable of swaying investors’ sentiment to the positive side, market watchers expect the bearish performance to extend into Thursday trading session. Week-to-date (WtD), the stock market has decreased by 1.30percent due to losses in mid-to-large cap stocks.
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At the sound of trade closing gong on Wednesday, the Nigerian Stock Exchange All Share Index (ASI) decreased by 1.14percent to close at 27,314.87 points as against the preceding day close of 27,630.56 points while Market Capitalisation closed at N13.297 trillion as against preceding day close of N13.450 trillion, indicating a decline of N153billion.
The volume of stocks traded decreased by 9.76percent from 194.7 million to 175.7 million, while the total value of stocks traded decreased by 16.18percent from N3.065 billion to N2.569 billion in 3,539 deals.
The Financial Services sector led Wednesday activity chart with 95.8 million shares exchanged for N1.13 billion, followed by Consumer Goods with 36.5million shares traded for N675million.
