Stock Market Mid-week Trading Slides by N158billion

The equities segment of the Nigerian Stock Exchange, NSE, saw a decline for the second straight trading as mid-week business lost N158 billion on Wednesday, February 17.

Equities had, in the last two trading, dropped by N266 billion from N8.539 trillion on Monday to close at N8.273 trillion when the closing gong rang yesterday.

In spite of weak market sentiments, analysts at the United Capital Plc still expect to see a good level of demand in equities over the course of the week as the upcoming earnings season comes into focus and investors continue to play for attractive dividend yields.

Market turnover closes positively as volume moved up by 15.35 per cent against 2.62 per cent uptick recorded in the previous session. Resort Savings Plc, UBA Plc and FCMB Plc were the most active to boost market turnover, while the Guaranty Trust Bank Plc topped market value list.