The Nigerian stock market extended Tuesday’s loss as sell pressure on OANDO (-3.5%), UBA (-1.8%), and FBNH (-1.7%) drove the All-Share Index lower by 0.1% to close at 97,487.14 points. Consequently, the Month-to-Date and Year-to-Date returns printed -1.1% and +30.4%, respectively.
The total volume of trades declined by 50.5% to 356.13 million units, valued at NGN6.95 billion, and exchanged in 8,582 deals. FIDELITYBK was the most traded stock by volume at 66.24 million units, while UBA was the most traded stock by value at NGN1.03 billion.
On sectors, the Banking (-0.7%), Oil & Gas (-0.5%), and Insurance (-0.2%) indices recorded losses, while the Consumer Goods index (+0.3%) advanced. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.4x), as 37 tickers lost relative to 15 gainers. ELLAHLAKES (-9.8%) and ABCTRANS (-9.6%) led the losers, while LASACO (+10.0%) and MECURE (+9.4%) recorded the most significant gains of the day.