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Nigerian stocks close flat as trading remain depressed

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Sell-offs in the shares of GTCO, Access and FBN Holdings weakened performance at individual stock level.

Nigerian stocks were almost completely unchanged on Wednesday as the benchmark index slackened by as little as 0.01 per cent, and low liquidity continued to dog the market despite a broadly promising earnings season.weakened performance at individual stock level.

A dip of 0.87 per cent in the insurance index also contributed to the negligible setback, and that equally made it the only one of the five sector indexes to report a negative outing. However, market breadth, which gauges the depth of investor sentiment, was positive, with 19 gainers recorded compared to 17 laggards.

The all-share index eased 4.69 points to close at 39,545.67, while market capitalisation closed lower at N20.6 trillion.Pharma Deko led gainers, appreciating by 10 per cent to close at N1.43. BOC Gases went up by 9.78 per cent to N10.10. NPF Honeywell rose to N2.71, notching up 9.72 per cent. Courteville added 8 per cent to end the trade at N0.27. FTN Cocoa completed the top 5, climbing by 6.06 per cent to N0.35.

 

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