Nigerian stocks extend losing streak as NSEASI dips 0.26%

Nigerian stocks closed lower Thursday with benchmark index, the NSEASI, depreciating by 0.26 percent to close at 39,031.72 points. The day’s performance thus extends the bear-run, which began in the previous trade. The NSEASI had dipped 0.35 percent Wednesday.

To this end, market year-to-date (YTD) returns stood at 1.79 percent.

Despite the downtrend, market breadth closed positive as OKOMUOIL led 28 gainers as against 17 losers topped by NEIMETH, an unimproved performance when compared with previous outlook.

Market turnover closed negative as volume moved down by 26.26 percent as against 33.68 percent uptick recorded in the previous session. UCAP, UBA and DIAMONDBNK were the most active to boost market turnover. NB andUBA topped market value list.

INTBREW led the list of active stocks that recorded impressive volume spike at the end of the day’s session.