Nigerian bourse closes negative Wednesday

The Nigerian Stock Exchange (NSE) closed in the positive territory on Wednesday as the market All -share index gained 19 basis points to peg the YTD at 31.96 per cent as the Market Capitalization also closed at 12.330 trillion.
The Market breadth tightened as ratio stood at 0.76 with 16 gainers to 21 losers, however, Market activities turned southward as both volume and value declined.
The market experienced 67.90 per cent decline in terms of volume to close at 119 million from 373 million traded from previous session. Value also closed at N1.74bn from N5.77bn traded from previous session representing 69.74 downturn.
ACCESS, ZENITH BANK, FIDELITYBK, FBNH and OANDO topped the activities chart in terms of volume while ZENITHBANK, NB, NESTLE, ACCESS and TOTAL topped the value’s chart to contribute majorly to today’s market worth.
The main index NSEASI with all other sector indices swayed into green zone save for NSEOILGAS as pressure mounts on Oil& Gas stocks to offload gains so far.
Big cap stocks in consumer goods sector recorded gain as UNILEVER, NESTLE, DANGSUGAR and CADBURY recorded gains.
Analysts at APT Securities and Funds Limited said despite the positive market trend on Wednesday, investors on the Exchange remain cautious, “we expect the equities market to play either way as we move further into the week”, they said.