Equities market opens negative, as investors lose N55bn

Trading activities at the local bourse started the week bearish as the benchmark index moderated 44bps to close at 24,200.60 following sell-offs in MTNN (-1.0percent), Zenith (-3.0percent) and Guaranty Trust Bank (-2.0percent ).

As a result, investors lost ₦55.2bn as market capitalisation fell ₦12.6tn while year to date loss worsened -9.8percent.

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The activity level strengthened as volume and value traded rose 75.7percent  and 139.6percent  to 231.2m units and ₦2.2bn respectively.

The top traded stocks by volume were Sterling Bank (77.5m units), FCMB (33.3m units) and Fidelity Bank(27.1m units) while MTNN (₦1.1bn), GTBank (₦215.0m) and Zenith (₦139.5m) led by value.