EQUITIES The market maintained its downtrend for the seventh consecutive session, as massive sell-offs in the entire sectors saw the benchmark index close below the 30,000 mark for the first time since 15 January 2013 while the market value stood less than N10trillion. The NSE ASI shrunk by 2.30% to close at 29,789.59 points, while Market Capitalization lost N232 billion to close at N9.83trillion. The decline sent the Year-To-Date and Month-To-Date returns lower to -27.92% and -13.76% respectively. All of the five NSE sectoral indices dipped. Industrial Goods index recorded the most appalling performance with a 3.06% decline, while the Banking and Consumers Goods indices followed with 2.76% and 1.18% declines respectively. The Insurance and Oil/Gas indices were the last on the pack with a 0.81% and 0.25% drop accordingly. Market breadth remained on the negative path with 9 gainers and 34 losers. Volume traded decreased by 29.94% to 261.05million shares, valued at N3.30billion and traded in 4,108 deals, The negative run is not expected to taper as positive catalysts remain unseen.
Posted on: Wed, 17 Dec 2014 08:42:32 +0000
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