Market depreciates for the 3rd consecutive day as sell-down persists

The Nigerian Stock Exchange depreciated for the third consecutive trading day in the week as sell-down pressure intensified.

Wednesday's loss further dipped YtD return to 2.94%. Volume and value traded followed market direction, declining by 26.42% and 23.45% respectively.

All NSE sector indices closed southward save NSEINS10 that gained 1.08% owing to the significant 4.31% price appreciation from the sector's most capitalized stock (MANSARD). Recording the highest decline in index is OILG5, shedding 1.34% on the back of price decline by most of the counters in the sector except OANDO that returned a marginal 0.04%.

CCNN, AIRSERVICE and REDSTAREX emerged as the most performing stocks each appreciating in price by 4.98%, 4.72% and 4.66% in that order. Conversely, PORTPAINT, SKYESHELT and MOBIL were drags on the market index, shedding 5.00% apiece