Sell-offs persisted on the floor of the Nigerian Stock Exchange (NSE) as the All-Share Index slipped 33bps to settle at 25,497.32 points following sell-pressures in banking stocks: Guaranty Trust Bank (-6.2 per cent), Zenith (-2.3%) and UBN (-3.9%).
Market capitalisation fell by ₦44.3 billion to ₦13.3 trillion while year to date loss worsened to -5.0%.
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Activity level varied as volume traded declined 0.8% to 252.0 million units while value traded advanced 0.8% to ₦2.0bn.
The performance was bullish across sectors as 5 of 6 indicators gained, the banking index closed south by 3.4percent, dragged by price declines in GTB (-6.2%), Zenith (-2.3%) and UBN (-3.9%).
On the other hand, the AFR-ICT and consumer goods indices closed higher by 0.4 percent apiece due to buying interest in MTNN (+0.8%), Nigerian Breweries (+2.5%), and Honey flour (+4.4%).
The Insurance and Oil & Gas indices advanced 0.3% and 0.2% respectively, buoyed by gains in Wapic (+3.0%) and Oando (+1bps).
Price appreciation in CAP (+2.7%) lifted the Industrial Goods index by 1bps.
Investor sentiment as measured by market breadth fell to 0.5x from the 1.1x recorded previously as 10 stocks gained against the 19 that declined.
