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Investors’ Bearish Sentiment Dips NGX Cap By N518Bn

Investors’ bearish sentiment dominated trading sessions in the Nigerian Exchange on Friday, thereby causing the local bourse to close the week’s trading with remarkable deprecation in most listed stocks’ values.

At the end of the trading session, the All-Share Index (ASI) traded 1.39% lower to close at 67,324.59 index points compared to the 68,271.14 index points it recorded at the close of Thursday’s trading session.

Similarly, the market capitalization dipped by N518 billion to close at N36.847 trillion, representing 1.39% decline from the N37.365 trillion it recorded in the previous trading session.

A further analysis of the market indices showed that the volume of traded equities totalled 1.03 billion, valued at N5.82 billion in 6,370 transactions.

As expected, the market breadth closed negative as NEM (10.00%) led the gainers, OANDO (-9.89%) led the losers while UNIVINSURE was the most traded equity – by volume – at the end of today’s session.

The Nigerian Exchange Group’s (NGX’s) data on the day’s trading trend also reflected that NEM, LASACO and CORNERST led the top three ASI gainer’s chart as they gained +10.00%, +9.68% and +9.60% respectively while the top three losers comprised OANDO, DANGOTE CEMENT and IKEJA HOTEL led the top losers’ chart as they lost –9.89%, -8.49%, and –8.09% respectively.

On the volume of stocks, the data indicated that UNIVINSURE led the chart in terms of volume with 670.23 million units traded followed by STERLING (65.17 million) and OANDO (60.09 million) to round up the top 3 traded stocks for today.

In terms of value traded, the NGX reported that OANDO (N719.98 million) led the chart followed by ACCESS HOLDINGS (N561.45 million) and UBA (N427.86 million) to round up the top three traded stocks in value

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