Stocks shed 2.84 per cent in three days, as NSE-ASI extends losing streak

• Equity market recorded improved sentiment in September
The equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 0.22 per cent to close at 30,330.58 basis points, compared with the 0.60 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 12.48 per cent.

Market breadth closed negative as Cutix led 19 gainers against 22losers topped by Seplat at the end of yesterday’s session- an improved performance when compared with previous outlook.
Market turnover closes negative as volume declined by 28.44% against 52.73 per cent uptick recorded in the previous session. Access, Wapic and Zenith Bank were the most active to boost market turnover. Dangote Cement and Guaranty topped market value list.

Volume shockers included Berger which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, equity market recorded improved sentiment at the end of September 2015 as the bench indicator turns green (5.16 per cent) after four months of consecutive negative outlook with highest loss of 9.79 per cent recorded in July 2015 while market YTD performance also remained in the red zone with 9.92 per cent. losses.

Market regulators continue to forge ahead with their market development and investors’ protection functions with The Nigerian Stock Exchange improving on its minimum operating standards by putting mechanisms in place to help improve upon brokers’ activities with its automation of regulatory and oversight functions of The Exchange over Dealing Firms through the broker oversight and supervision system.

Primary market activities in the month remained unchanged against previous month record as market witnessed no IPOs or Rights Issues. The Stanbic IBTC Holding rights issues which was earlier approved by SEC was put on hold while market still awaits update from UACN on its intended rights issue.