Equities market opens week with 0.37% loss

The equities market began the week with a loss 0.37 per cent as indicated by the dip in All-Share Index (ASI) and Market Capitalisation.

Specifically, ASI goes 37 points lower at the close of trading session on Monday to rest at 35,358.73 basis points, thus leaving the Year-To-Date return at 31.57 per cent, while market capitalization also closed at N12.292 trillion.

Market activities dipped to begin the week as volume traded closed downbeat by 44.25 per cent at 107 million from the previous trading session of 192 million. Value also decreased from previous levels by 62.84 per cent from N3.68 billion to close at N1.37 billion.

Nestlé Nigeria, Guaranty Trust Bank, Nigerian Breweries, WAPCO and FBN Holdings topped the value’s chart to contribute majorly to the market worth.

NSE ASI with all other sector indices swayed southward into red zone save for the Insurance Index as reflected by price appreciation in Custodian Insurance at 4.91 per cent, AIICO Insurance, at +1.85 per cent and Mansard Insurance at +0.50 per cent.

It is however expected that favourable outcome on economic indicators from the Monetary Policy Committee (MPC meeting scheduled for 25th and 26th of September, coupled with anticipation for the Q3 result would bolster investors’ sentiment as the trading sessions go by.

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