The Nigerian equities market journeyed further into the negative territory on Tuesday June 18, 2019, despite a relatively even split between gainers and losers. Twenty (20) stocks gained led by Mobil Oil Plc as against 21 losers led by Nestle Nigeria Plc.
At the sound of the closing gong for stocks trading on the Nigerian Stock Exchange (NSE), the All Share Index (ASI) decreased by 0.39percent, pushing the year-to-date (ytd) return further into the negative territory (-5.13percent).
The All Share Index closed at 29,818.80points as against the preceding day’s close of 29,936.33 points while Market Capitalisation closed at N13.140 trillion against preceding day’s close of N13.192 trillion, indicating a loss of about N52billion.
Despite record spike in market activity in the last two sessions on the back of large volume transactions on select banking names, bearish sentiment on the Bourse still led to record negative closes.
Analysts foresee another poor performance by the All Share Index on Wednesday in the absence of catalysts to drive the market back to life.
