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Home Business News

Bears return, Nigeria’s local bourse drops 0.12%

Olumide Adesina by Olumide Adesina
March 17, 2020
in Business News, Markets
Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion
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The Nigerian bourse fell slightly on Monday, as the Nigerian All Share Index/Market Capitalization declined by 0.12% to close at 22,705.19 and N11.832 trillion respectively. Thus, the year to date performance dropped to -15.43%.

Market activity closed lower, compared to the previous trading session, as the total volume and total value declined by -24.78% and -43.66%, to settle at 551.48 million units of shares valued at N5.75 billion in 6,981 deals.

GUARANTY and ZENITH BANK shares were the most active in today’s trading to boost market turnover and value list.

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Market breadth index was, however, positive as UBN (10.00%) led 14 gainers, as against 10 losers topped by TRANSCORP (+10.00%).

[READ MORE: Global market: Week of the bears)

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Sector performance closed mixed. The insurance sector improved by 1.31%, on the back of price appreciation in LASACO (+10.00%), AIICO (+8.22%) and NEM (+4.17%). Gains in tier-one banking stocks, UBN (+10.00%), ZENITH BANK (+7.56%) and ACCESS (+1.85%) spurred a 0.63% increase in the banking index.

Conversely, the Industrial and the Consumer Goods indices declined by 0.52% and 0.16%, fueled by losses sustained in WAPCO (-6.10%), DANGSUGAR (-2.96%) and NB (-0.18%). The Oil & Gas index remained unchanged.

Top gainers 

Included Union Bank close N6.60 up 10% on reports being acquired by Zenith Bank, JBERGER close at N22.15 up 9.65%; EKOCORP close at N6.oo up 9.09%; PZ to close N4.05 up 8% and ZENITH BANK N12.80 up 7.56%

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Top losers 

In addition, SKYAVN down 9.73% to close at N2.32, FBNH down 7.50% to N3.70, WAPCO down 6.10% to close N10.00, UBA down 5.61% to close N5.05 and DANGSUGAR down 2.96%to close N9.85

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Tags: JBERGERMarket CapitalizationNigerian bourseNigerian Business NewsPZUnion BankZenith Bank News

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