Lagos, Jan. 21, 2021 Trading on the Nigerian Stock Exchange returned to bearish posture on Thursday with the market indices losing 0.12 per cent following profit taking in Dangote Cement and Axa Mansard.
Specifically, the All-Share Index dipped 48.57 points or 0.12 per cent to close at 41,099.15 from 41,147.72 recorded on Wednesday.
Accordingly, month-to-date and year-to-date returns moderated to 2.1 per cent.
Also, the market capitalisation dropped N26 billion or 0.12 per cent to close at N21.499 trillion against N21.524 trillion recorded on Wednesday.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are MRS Oil Nigeria, Cadbury Nigeria, Flour Mills, Dangote Cement and Guinness.
Transactions on the Nigerian Stock Exchange (NSE) rebounded on Wednesday by N50 billion, halting two consecutive days bearish trend due to sustained bargain-hunting in insurance stocks.
Accordingly, month-to-date and year-to-date returns moderated to 2.1 per cent.
Also, the market capitalisation dropped N26 billion or 0.12 per cent to close at N21.499 trillion against N21.524 trillion recorded on Wednesday.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are MRS Oil Nigeria, Cadbury Nigeria, Flour Mills, Dangote Cement and Guinness.
Market sentiment closed negative with 50 losers, relative to 14 gainers.
Chams and Prestige Assurance led the losers’ chart in percentage terms, losing 10 per cent each to close at 27k and 54k per share, respectively.
Tourist Company came second with 9.84 per cent to close at N2.84 per share.
Transactions on the Nigerian Stock Exchange (NSE) rebounded on Wednesday by N50 billion, halting two consecutive days bearish trend due to sustained bargain-hunting in insurance stocks.