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NSE index dips as bear continues to weigh on stocks

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Trading activities on the floor of the Nigerian Stock Exchange, NSE, on Thursday, May 25, continued movements south as bear continues to weigh on stocks.
Consequently, the NSE All Share Index, NSE-ASI depreciated by 1.06%, on Thursday following the sell-off across all sectors.
Similarly, market breadth index closed negative with a paltry 8 gainers paired against 35 stocks that declined.
MRS with a stock value appreciation of 10.10% emerged the day’s top gainer, while Diamond Bank emerged the day’s biggest loser with a stock value depreciation of 8.28%.
Sectorial Performance chart showed NSE Consumer Goods Index dipping by 1.79%, due to the sell-off in Nigerian Breweries, Dangote Flour, Dangote Sugar and Flour Mill.
NSE Banking Index slumped by 1.70%, following the losses recorded by Diamond Bank, Fidelity Bank, FBNH, Zenith Bank, Guaranty Trust Bank, Access Bank and UBA.
NSE Industrial Index collapsed by 0.20%, on the back of the 4.76% loss in CCNN and the 4.35% drop in FirstAlum.
NSE Oil & Gas Index slipped by 0.01%, majorly driven by the 5.00% loss in Caverton, 4.66% drop in Eterna and 3.70% dip in JapaulOil.
At the end of trading for the day, Sovrenins emerged the most actively traded with 53million units of shares worth N13million.

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