by Kingseyi Tue Jul 17, 2018 11:00 pmActivities in the equities market remained
bearish, as the All Share Index dipped further, by
0.81 percent, to 36,963.70 points, amidst still
negative sentiments.
As a result, the Year-to-Date, YtD and Month-
to-Date, M tD returns moderated to -3.35
percent and -3.43percent, respectively.
Nigerian Stock Exchange NSE
All sector indices – Industrial Goods (-2.36
percent), Oil & Gas (-1.31 percent), Consumer
Goods (-1.18 percent), and Banking (-0.93
percent) – save for the Insurance index (+0.15
percent), continued to decline.
This was largely attributable to sell pressure in
the shares of WAPCO (-18.00 percent), OANDO
(-9.48 percent), PZ (-9.94 percent), and
Guaranty Trust Bank (-1.13 percent), as well as
investor interest in Sovereign Insurance
(+8.00percent) shares, respectively.
Market breadth remained negative, with 31
laggards and 14 gainers, led by Julius Berger
(-10.00 percent) and Sovereign Insurance
(+8.00 percent), respectively. Total volume of
trades dipped by 32.84 percent to 203.8 million
units, while total value of trades increased by
17.09 percent to N2.39 billion, exchanged in
4,179 deals.
Analysts at Cordros Capital, a Lagos based
investment firm said: “In our view, the continued
selloffs call for cautious trading among
investors, amidst absence of a near-term one-off
positive catalyst in the short to medium term.
However, still-positive macroeconomic
fundamentals remain supportive of gains on the
long term.”
bearish, as the All Share Index dipped further, by
0.81 percent, to 36,963.70 points, amidst still
negative sentiments.
As a result, the Year-to-Date, YtD and Month-
to-Date, M tD returns moderated to -3.35
percent and -3.43percent, respectively.
Nigerian Stock Exchange NSE
All sector indices – Industrial Goods (-2.36
percent), Oil & Gas (-1.31 percent), Consumer
Goods (-1.18 percent), and Banking (-0.93
percent) – save for the Insurance index (+0.15
percent), continued to decline.
This was largely attributable to sell pressure in
the shares of WAPCO (-18.00 percent), OANDO
(-9.48 percent), PZ (-9.94 percent), and
Guaranty Trust Bank (-1.13 percent), as well as
investor interest in Sovereign Insurance
(+8.00percent) shares, respectively.
Market breadth remained negative, with 31
laggards and 14 gainers, led by Julius Berger
(-10.00 percent) and Sovereign Insurance
(+8.00 percent), respectively. Total volume of
trades dipped by 32.84 percent to 203.8 million
units, while total value of trades increased by
17.09 percent to N2.39 billion, exchanged in
4,179 deals.
Analysts at Cordros Capital, a Lagos based
investment firm said: “In our view, the continued
selloffs call for cautious trading among
investors, amidst absence of a near-term one-off
positive catalyst in the short to medium term.
However, still-positive macroeconomic
fundamentals remain supportive of gains on the
long term.”
