Paling 0.6 percent to close at 25,446.66 on Tuesday, the equities market continued on a three-day downward trend. Similarly, market capitalisation dipped N53.1 billion to settle at N8.8 trillion while the YTD at the close of trade worsened, currently standing at -5.3 percent.
Depreciations in NESTLE (-5.0%), NIGERIAN BREWERIES (-2.0%) and ZENITH (-2.2%), could be attributed to the YTD performance. Regardless, activity levels were on the upswing as both volume (+43.8%) and value (82.7%) traded posted noticeable increases.
However, the performance across sectors was mixed, the Insurance and Industrial Goods indices gained 0.8 percent and 0.4 percent, respectively, of which this was ascribed to gains in MANSARD (+4.8%) and DANGCEM (+0.6%).
The losers on the other hand were led by the Consumer Goods index, which slid 2.5 percent due to losses in NESTLE (-5.0%) and NIGERIAN BREWERIES (-2.0%). Trailing, the Oil and Gas and Banking indices paled 0.6% and 0.3% as a result of losses in FORTE (-6.5%), OANDO (-1.7%), ZENITH (-2.2%) and ETI (-2.9%), accordingly.
Investor sentiment indicator, market breadth settled at 0.6x (up 0.3x Monday) on account of 14 stocks posting gains and 22 declining. BETAGLASS (+5.0%) led the band of gainers while being trailed by CAVERTON (+5.0%) and PRESCO (+4.9%). Conversely, FORTE (-6.5%) led the group of 22, followed by NESTLE (-5.0%) and PZ (-5.0%).
