The Nigerian Stock Exchange (NSE) All Share Index (ASI) on Tuesday continued its loitering in the negative territory as insistent Bears pushed the market to another negative close.
The record -0.13percent decline on Tuesday February 9 fueled the month’s dip now at -2.13percent thereby moderating the record year-to-date (YtD) positive return to 3.08percent.
Amid scarcity of positive news capable of reversing the bearish trend, the stock market may close further in red on Wednesday.
At the close of trading session, the NSE ASI moved from 41,564.31 points to 41,510.16 points while market capitalisation, a measure of value of listed stocks on the domestic bourse decreased by N29billion, from N21.744trillion to N21.715trillion.
Stocks that caused the negative close are Northern Nigeria Flour Mills, which led the laggards after moving from N8.65 to N7.79, down by 86kobo or 9.94percent, followed by NEM Insurance which decreased from N2.5 to N2.27, losing 23kobo or 9.20percent. Also, Niger Insurance made the top losers league after its stock price decreased from 22kobo to 20kobo, losing 2kobo or 9.09percent, followed by Japaul Gold which decreased from 79kobo to 72kobo, losing 7kobo or 8.86percent.
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In 4,969 deals, investors exchanged 305,927,696 units valued at N3.951billion. FBN Holdings, Guinness, RT Briscoe, Zenith Bank and Sterling Bank were top traded counters on Tuesday.
