Stocks swing southward on speculation, NSE ASI dips by -0.37%

Proshare

Monday, July 08, 2013 5:45 PM The Analyst

The equities market closed today on a negative note, as the NSE ASI depreciated by -0.37% to close at 36,790.14 points, compared with the appreciation of +1.14% recorded previously. Its Year-to-Date (YTD) return currently stands at +31.02%.

The depreciation in the Index today is as a result of the losses recorded in the share prices of
NESTLE, GUARANTY, FBNH, ZENITHBANK, FCMB, CADBURY and TRANSCORP. The Market Capitalization also depreciated by -0.37% to close at N11.65trn (US$72.81bn), compared with appreciation of +1.14% recorded previously to close at N11.69trn (US$73.08bn).

NSE-Oil, NSE-30 and NSE-BNK stocks were the most hit today as captured by NSE sector indices.
BETAGLASS and
PORTPAINT led the price winners with above 9% gains each; NSE-IND inches up by +0.52% as NSE-Food moved southward by -0.49%. CORNERST lost 13.56% to close at NGN0.51kobo leading on the losers' chart.

Market outlook reveals sustained speculative tendency as the key benchmark succumbs to sell pressure amid positive breadth close. Nonetheless, we advise investors to tread with caution and engage in value investing as bulls start the week with low bargain posture due to indecision in the camp.

The Analyst 

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Market Index
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Sector Index
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Compare Quotes
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Top Stock by volume
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Top Stock by value
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Strong Bid
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Strong Offer
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Wks high today
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Wks low today


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