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Equity market returns to bearish trend

By Amaka Ifeakandu Lagos

Trading activities on the fl oor of Nigerian Stock Exchange (NSE) yesterday returned to bearish trend as profi t taking hit the market. Market Capitalisation of listed equities declined by N14 billion to N13.133 trillion from N13.147 trillion traded the previous day. Also NSE All Share Index depreciated by 41.53 basis point to 38102.85 point from 38144.02 recorded in Wednesday. Investors for the day traded 362.670 million shares valued at N5.596 billion in 4055 deals against 328.653 million shares worth N6.101 billion exchanged the previous day in 4983 deals. On the contrary, Total Nigeria Plc topped losers chart, shedding N11.00 to close at N249.00, Forte Oil trailed with a loss of N5.78 kobo to close at N53.76 kobo, Dangote Sugar Refi nery declined by N0.69 kobo to close at N12.57 kobo while Zenith International Bank depreciated by N0.50 kobo to close at N24.00. Further analysis showed that Access Bank Plc of the banking subsector, was the most active stock during the day, exchanging 69.793 million shares worth N713.398 million, Zenith Bank followed with account of 56.840 million shares valued at N1.440 billion, FCMB Group traded 47.166 million shares valued at N57.341 million, Diamond Bank exchanged 33.227 million shares cost N43.217 million, Guaranty Trust Bank sold 26.806 million shares worth N1.089 billion.

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