The stock market has witnessed increased selloff lately in the wake of positive news that could drive buy decisions on Custom Street.
On the gainer table, International Breweries Plc rallied most from N12 to N12.6, adding 60kobo or 5percent.
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Nigerian Breweries Plc advanced from N52 to N52.5, adding 50kobo or 0.96percent, while Custodian Investment Plc rose from N5.85 to N6.3, adding 45kobo or 7.69percent.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.25percent on Wednesday pushing the month to date (MtD) negative return further to -1.50percent and year-to-date (Ytd) negative return was also down by -13.20percent.
The NSE ASI closed lower at 27,283.05 points as against preceding trading day high of 27,352.24 points.
The value of listed stocks decreased by N33billion to N13.281trillion as against N13.314trillion recorded the preceding day.
In 2,895 deals, stocks dealers exchanged 462,314,616 units valued at N7.924billion. Access Bank Plc, Custodian Investment Plc, Nigerian Breweries Plc, FBN Holdings Plc, and Union Bank of Nigeria Plc were actively traded stocks on the Bourse.
With most indicators coming in stronger in the day’s trading session as evidenced by most sectors closing higher, improved market breadth and increased transaction size, research analysts at Lagos-based Vetiva expect the market to witness renewed interest on Thursday “as investors take position in fundamentally sound stocks that have declined in recent sessions.”
