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Equity Market Narrows Downward Trend As NSE-ASI Dips -0.1%, Investors Lose N23bn


– Naira Stands N395.50/USD At I&E Window

Equities market closed on Wednesday in the negative territory with NSE-ASI depreciating by -0.1 per cent to close at 42,000.01 basis points (bsp), as against -0.74 per cent depreciation recorded on Tuesday at 42,043.79 bsp.

Index Year-to-Date (YTD) returns stand at +4.29 per cent.

A total of 504,995,137 shares exchanged hands in 5,880 deals corresponding to a market value of N5,310,297,903.61.

This represents a 10 per cent decline in volume, 11 per cent improvement in turnover but 17 per cent decline in deals when compared with the previous NSE trading of Tuesday, February 2.

Market capitalization dropped to N21.98 trillion as against N21.99 trillion in the previous day’s trading, leading to investors’ loss of N23 billion at the close of Wednesday’s trading.

Trading also ended with 19 gainers and 27 losers led by NCR Nigeria with +9.94 per cent and Linkage Assurance with -9.88 per cent respectively.

The performance of NSE market indices was mixed: the benchmark NSE All-Share Index closed at 43.78 points (or -0.1 per cent).

Other remarkable indices that performed at Wednesday’s trading include the NSE Premium Index (+0.15 per cent; +0.8 per cent 1 WK; +2.57 per cent YTD).

NSE Lotus Islamic Index (+0.06 per cent; +0.21 per cent 1Wk; +2.57 per cent YTD).

NSE ASeM Index (+0 per cent); NSE Pension (-0.02 per cent; 0.55 per cent 1WK; +5.23 per cent YTD).

NSE Oil & Gas (-0.05 per cent; -1.48 per cent 1WK; +12.04 per cent YTD).

At the foreign exchange market, the Naira closed flat at N395.50/USD, also recorded at Tuesday’s trading at the I&E FX Window of the FMDQ Securities Exchange where the CBN official rate still stands at N379/USD.