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The NG All Share Index (ASI) closed in negative territory today, dropping 1.46% to 142,613.47 points as market capitalization fell by N1.31 trillion to N88.32 trillion.
Year to date returns for the broad market fell to 38.56%. The day’s decline was largely driven by sustained sell pressure in Dangote Cement (-9.98%), alongside profit taking in some banks such as GTCO (-2.60%), STANBIC (-2.6%) and Zenith Bank (-7.2%).
Across the sectoral indices, NGX Consumer Goods Index was the only gainer, up +0.57% on the back of gains in CADBURY (+2.40%) and INTBREW (+6.95%).
On the downside, NGX Industrial Goods (-4.37%) was dragged by Dangote Cement (-9.98%), NGX Insurance Index (-3.86%) by LASACO (-9.77%) and Linkage Assurance (-9.74%), NGX Banking Index (-2.06%) by GTCO (-2.60%) and STANBIC (-2.60%), while NGX Oil and Gas Index (-0.68%) closed lower, driven by OANDO (-7.11%).
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