Equities trading on the Nigerian Stock Exchange (NSE) reversed sustain previous day loss to close on a bearish trend as investors lost N billion on Thursday.
Specifically, the All-Share Index (ASI) decreased by 166.14 absolute points, representing a dip of 3.12 per cent to close at 22,078.58 points. Similarly, the overall equities market capitalisation size declined by N370.55 billion, to close at N11.506 trillion.
Market breadth closed negative, with 13 gainers versus 22 losers with African Prudential recording the highest price gain, while Zenith Bank and United Capital led the losers’ chart.
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The downturn was impacted by loses recorded in large among which were Zenith Bank, United Capital, United Bank for Africa, Wapco, Access Bank MTN Nigeria, Dangote Cement.
Activity at the market reduced as the total volume of trades on the local bourse decreased to 525.85 million units, valued at N4.74 billion and exchanged in 5,450 deals. Transactions in the shares of Zenith Bank UBA topped the activity chart with 118.5 million shares valued at N1.5 billion, followed with 102.4 million shares worth N22.4 million of Wapic Insurance shares.
Guaranty Trust Bank traded 100.7 million shares valued at N1.8 billion, while FBN Holdings traded 35.2 million shares worth N140.7 million.
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