Equities market reverses previous day gain as investors lose N20.6bn

The Nigerian Equities goes south at the end of trading activities, on Thursday, to reverse previous day gain by -0.16 per cent.

At the close of the day trading session, the All-Share Index shed 0.16 per cent to settle at 24,933.41 basis points, Thus, Month-to-Date and Year-to-Date losses increased to -1.3 per cent and -7.1 per cent, respectively.

Investors lost N60.6 billion as the market capitalisation was reduced to N13.006 trillion as investors took profit in Nigerian Breweries shares.

Similarly, market breadth closed in favour of the bear with nine stocks closing in green against ten losers.

On the gainers’ chart, C&I Leasing, AIICO Insurance, Mutual Benefit, Oando and May & Baker led the pack, while at the rear of the chart, Fidson, Nigerian Breweries, Neimeth, Jaiz Bank and NPF Microfinance Bank led the chart.

All Sectoral Indices closed southward save for Insurance and Oil&Gas sector owing to price gain in AIICO Insurance and Oando, while Industrial Sector flattened alongside NSE ASEM flat.

The market recorded a total of 171 million shares today worth 2.21 billion in value, representing 35.63 per cent and 18.39 per cent decrease respectively from 265 million shares worth 2.71 billion in the previous session.

FCMB, Guaranty Trust Bank, FBN Holdings, United Bank for Africa and Access Bank ended the trading day as top performers in terms of volume while Guaranty Trust Bank, MTN Nigeria, Nigerian Breweries, Zenith Bank and Dangote Cement made up the top five performers in terms of the value of units traded.

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