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Investors lose N40bn in equities market

The equities market opened the week negative investors lost ₦40.7 billion as market capitalisation declined to ₦14.8trillion while year to date return worsened to 5.6 per cent.

The All-Share Index lost 0.3 percent due to sell-offs in MTNN (-0.4percent), BUA Cement (-1.5percent) and Flourmill (-4.5percent) to close at 28,337.49 points.

Activity level was mixed as volume traded fell 3.9 percent to 369.2m units while value traded rose 30.6percent to ₦5.1bn.

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The most active stocks by volume were UBA (95.1m units), Guaranty (65.5m units) and Zenith (47.2m units) while Guaranty (₦1.9bn), Zenith (₦944.3m) and UBA (₦678.7m) led by value.

Sector performance was uninspiring as all indices our coverage lost save Oil & Gas index which gained 1.4percent  due to buying interest in Eterna (+9.9percent ) and Seplat (+2.4 percent ).

The Insurance and Consumer Goods indices lost the most, down 1.8percent  and 0.9percent  respectively due to sell-offs in Mansard (-9.7percent) and AIICO (-3.6percent) as well as Flourmill (-4.5percent) and International Brewery (-9.1percent ).

Similarly, the Industrial Goods, AFR-ICT and Banking indices declined 0.5 percent, 0.2 percent  and 0.1 percent respectively on the back of price depreciation in BUA Cement (-1.5 percent ),  MTNN (-0. 4 percent ) Zenith (-0.3 percent).

Investor sentiment as measured by market breadth rose to 0.8x from the 0.6x recorded in the previous session as 13 stocks gained against 16 decliners.

 

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