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Home Industries Company News

Bears grip Nigerian bourse, ASI Index down 0.71%

Olumide Adesina by Olumide Adesina
March 18, 2020
in Company News, General News, Politics, Stock Market
Bears ravage global market,Bears grip Nigerian bourse ASI Index down 0.71%, Week the bears took control of the world's financial Markets, STANBIC, NB, GUARANTY push up Nigerian bourse, Investors gain N258.80 billion, STANBIC, NB, GUARANTY push up Nigerian bourse, Investors gain N258.80 billion
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Bearish sentiments persisted in Nigeria’s bourse on Tuesday as the Nigerian All-Share Index and market capitalization declined further by 0.71% to 22,543.07 points and N11.747 trillion respectively, bringing YTD performance to -16.14%.

The activity level, however, surged as both volume and value of equities traded today rose by 22.56% and 40.03% respectively, to 675. 910 million shares valued at N8.059billion, in 7,368 deals.

Financial ratios you need for stock analysis, Understanding price multiples and how to use them for stock selection, Bears grip Nigerian bourse ASI Index down 0.71%,Bears grip Nigerian bourse ASI Index down 0.71%

Zenith Bank was the most traded stock by volume at 173.93 million units, followed by Guaranty Trust Bank plc. with 131.06 million units of trades. Market breadth index was positive as ACCESS & WAPCO (10.00%) led 27 gainers, as against 12 losers topped by DANGCEM (-10.00%).

(READ MORE: Stock market drops below N12 trillion mark, investors lose N456 billion on Thursday)

Performance across sectors closed mixed, as three out of the five indices closed Red. Renewed buying interest in Tier-one banking stocks, ACCESS (+10.00%), FBNH(+8.11%) and ZENITH BANK (+5.47%) placed the Banking index (+5.59%) as the best performing index, trailed by the Insurance index (+0.85%) on gains recorded in NEM (+5.33%), AIICO (+5.06%) and MANSARD (+3.03%).

DANGCEM (-10.00%) dragged the industrial sector by -2.16%, followed by the Oil & Gas and Consumer Goods indices dipping distantly by (-0.61%) and (-0.04% ) respectively, on ARDOVA (-9.80%) and INTBREW (-9.57%).

Top gainers 

WAPCO closed N 11.00 up 10%, NB closed at N20.00 up 7.33%  ZENITH BANK N13.50 up 5.47% , STANBIC closed N30.25 up 3.24  and ,MTNN closed N95.00 up 2.04 %

Top losers  

DANGCEM down 10%  to close at  N137.7, NASCON down 10% to close at  N8.55   ARDOVA down  9.80% to close 1.80   CAP down 9.77%  to close at N18.00   and INTBREW down 9.57%  to close at N5.20

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Tags: Access BankBusiness NewsDANGCEMFBNHNigeria Stock MarketStanbic IBTCZenith Bank News

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