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Stock market records losses, capitalisation down by N20bn

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 Bearish sentiment resurfaced at the Nigerian stock market on Monday following sell off in some bank stocks such as Fidelity Bank Sterling Bank Access Bank First Bank of Nigeria Holdings FBNH among others Specifically the market capitalisation lost N20 6 billion or 0 07 per cent to close at N27 921 trillion from N27 941 trillion on Friday Also the All Share Index ASI declined by 38 22 points or 0 07 per cent to close at 57 791 against 51 829 the same day Accordingly the year to date returns increased to 21 24 per cent Overall the market was negative with 17 losers relative to 18 gainers Fidson Pharmaceutical drove the gainers chart in percentage terms by 9 82 per cent to close at N12 30 per share Learn Africa followed with a gain 9 79 per cent to close at N2 47 while UPDC rose by 9 71 per cent to close at N1 13 per share Prestige Insurance went up by 8 33 per cent to close at 39k while Regent Alliance Insurance appreciated by 7 69 per cent to close at 28k per share On the other hand Conoil led the losers chart in percentage terms by 9 9 per cent to close at N25 95 per share Redstar Express and RT Briscoe followed with 9 09 per cent each to close at N2 50 and 40k per share Cutix shed 7 69 per cent to close at N2 28 per share while Unity Bank lost 6 67 per cent to close at 42k per share Also the total volume traded increased to 194 122 million units valued at N2 82 billion and exchanged in 4 899 deals Transactions in the shares of Transcorp topped the activity chart with 25 07 million shares valued at N31 77 million Guaranty Trust Holding Company GTCO followed with 20 18 million shares worth N413 02 million while United Bank for Africa UBA traded 15 59 million shares valued at N131 22 million AIICO traded 13 61 million shares valued at N8 32 million while First Bank of Nigeria FBNH transacted 11 63 million shares worth N131 92 million Analysist at GTI Securities said Equity market closed transaction for today negative as bargain hunting resumes We expect cautious trading to continue in the week NewsSourceCredit NAN
Stock market records losses, capitalisation down by N20bn

Fidelity Bank

Bearish sentiment resurfaced at the Nigerian stock market on Monday, following sell-off in some bank stocks such as  Fidelity Bank, Sterling Bank, Access Bank, First Bank of Nigeria Holdings (FBNH), among others. 

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Specifically, the market capitalisation lost N20.6 billion or 0.07 per cent to close at N27.921 trillion from N27. 941 trillion on Friday.

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All-Share Index

Also, the All-Share Index (ASI) declined by 38.22 points or 0.07 per cent to close at 57,791 against 51,829 the same day.

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Accordingly, the year-to-date returns increased to 21.24 per cent.

Overall, the market was negative with 17 losers, relative to 18 gainers.

Fidson Pharmaceutical

Fidson Pharmaceutical drove the gainers’ chart in percentage terms by 9.82 per cent to close at N12.30 per share. 

Learn Africa

Learn Africa followed with a gain 9. 79 per cent to close at N2.47, while UPDC  rose by 9.71 per cent to close at N1.13 per share.

Prestige Insurance

Prestige Insurance went up by 8.33 per cent to close at 39k, while Regent Alliance Insurance appreciated by 7.69 per cent to close at 28k per share.

On the other hand, Conoil led the losers’ chart in percentage terms by 9.9 per cent to close at N25.95 per share.

Redstar Express and RT Briscoe

Redstar Express and RT Briscoe followed with 9.09 per cent each to close at N2.50 and 40k per share.

Unity Bank

Cutix  shed 7.69 per cent to close at N2. 28 per share, while Unity Bank lost 6.67 per cent to close at 42k per share. 

Also, the total volume traded increased  to 194.122 million units valued at N2.82 billion and exchanged in 4,899 deals.

Transactions in the shares of Transcorp topped the activity chart with 25.07 million shares valued at N31.77 million.

Guaranty Trust Holding Company

Guaranty Trust Holding Company (GTCO) followed with 20.18 million shares worth N413.02 million, while United Bank for Africa (UBA) traded 15.59 million shares valued at N131.22 million.

First Bank of Nigeria

AIICO traded 13.61 million shares valued at N8.32 million, while First Bank of Nigeria (FBNH) transacted 11.63 million shares worth N131.92 million.

Analysist at GTI Securities  said, “Equity market closed transaction for today negative, as bargain hunting resumes. We expect cautious trading to continue in the week.’

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NewsSourceCredit: NAN

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