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Nigerian equities start week on bearish trend

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EQUITIES yesterday traded marginally bearish on the floor of Nigerian Stock Exchange (NSE) to start the week’s trading on a shaky note.

  Shares of Guaranty Trust Bank Plc which fell by 1.2 per cent caused a 0.1per cent decreased in All-Share Index (ASI) to bring it t 38,686.40 basis points, falling 39.7 basis points from the 38,726.10 basis points which it recorded on Friday. Market capitalisation stood at N20, 164 trillion, losing N21 billion from N20, 185 trillion it recorded on Friday.

  The total volume of trades increased by 5.9per cent to 210.75 million units, valued at N1.50 billion and exchanged in 3,958 deals, where FBN Holdings Plc was the most traded stock by volume at 16.64 million units, while Zenith Bank Plc was the most traded stock by value at N365.90 million.

  As measured by market breadth, market sentiment was negative as 28 stocks lost relative to 13 gainers.

  JULI PLC and CWG PLC topped the losers’ list by 9.93 per cent and 9.8per cent respectively, while Morison Industries Plc and CONOIL PLC recorded the most significant gains of the day with 9.7per cent and 9.6 per cent respectively.

  Sectoral performance was broadly negative as the Insurance index fell by 1.3%; Banking Index fell by 0.9per cent; Consumer Goods index fell by 0.1per cent, while Industrial Goods index fell by 0.1percent.

  On the other hand, the Oil & Gas index was the lone gainer with 0.3per cent.

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