WED AUG 14 2024-theGBJournal| Nigerian stocks closed lower Wednesday as bears continued to dominate the local bourse.
The All-Share Index dipped by 0.1% to close at 97,248.82 points with market performance was undermined by losses in OANDO (-10.0%).
The Month-to-Date and Year-to-Date returns moderated to -0.5% and +30.1%, respectively.
The total volume of trades declined by 47.4% to 315.30 million units, valued at N5.48 billion, and exchanged in 8,365 deals.
VERITASKAP was the most traded stock by volume at 38.42 million units, while GTCO was the most traded stock by value at NGN1.65 billion.
From a sectoral perspective, the Insurance (-0.9%), Banking (-0.3%), Consumer Goods (-0.2%), and Oil & gas (-0.2%) indices recorded losses, while the Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.9x), as 23 tickers lost relative to 21 gainers. OANDO (-10.0%) and CUTIX (-9.9%) recorded the highest losses of the day, while GUINEAINS (+10.0%) and RTBRISCOE (+9.9%) topped the gainers’ list.
Meanwhile, the naira depreciated by 0.3% to N1,586.04/USD at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
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