Bears dig in as market sheds N57.06bn

The Nigerian Stock Exchange remained bearish for the  third trading day, as more stocks trended southwards.

Market breadth declined to 0.61x from the previous level of 0.80x, with 20 stocks appreciating against 33 stocks that depreciated. While market capitalization declined to NGN11.513tn (losing 0.49%), the All share index (NSEASI) fell to 36,299.30pts decreasing by 0.50%.

Both volume and value of transactions declined by 29.64% and 23.07% respectively,  with NB, FBNH and OKOMUOIL leading the highest trade by value while TRANSCORP, FBNH and UBCAP topped the list of trades by volume.

According to figures from the Daily Trading list of the NSE, top ten trades by volume and value accounted for 65.20% and 78.8% respectively of the total trade by volume and value.