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Nigerian stock exchange e1429085404205 1280x720

The market supports bearish as index plunges further by 0.10%



More business news available at https://tradenaira.com/news for free.

Trading at the Nigerian Stock Exchange (NSE) supported a sliding profile yesterday. More blue-chip stocks deteriorated in value, causing the All-Share Index (ASI) to plunge further by 0.10 percent.

At the end of exchanges yesterday, the ASI fell by 43.78 outright focuses or 0.10 percent to close at 42,000.01 focuses. Additionally, the general market capitalization diminished by N23 billion to close at N21.971 trillion.

The plunge was affected by misfortunes recorded in medium and enormous worth stocks, including Mills of Nigeria, Guaranty Trust Bank, Lafarge Africa, Champion Breweries, and UAC of Nigeria (UACN).

Examiners at Afrinvest Limited said: "We accept the assumptions for and pattern in corporate deliveries will impact execution this week."

Vetiva Dealing and Brokerage likewise said: "The bears kept on overwhelming the homegrown bourse in the last three meetings, pushing the ASI somewhere around 0.97 percent WTD, while the YTD execution decreased to +4.29% (versus +5.32 percent posted on Friday).

"Given the improvement found in some mid-cap stocks today, combined with the ascent in market broadness from 0.18x presented yesterday on 0.70x today, we anticipate that the ASI should get back to the positive locale tomorrow, because of some normal deal chasing exercises."


The market opinion was negative, as 27 stocks declined, comparative with 19 gainers. NCR Nigeria recorded the most significant cost gain of 9.94 percent to close at N3.43 per share.

United Hallmark Insurance followed with 9.52 percent to close at 46 kobos, while Prestige Assurance rose 9.09 percent to close at 48 kobos.

McNichols Consolidated Plc progressed 8.93 percent to close at 61 obo, and Eterna acquired 7.69 percent to complete at N5.60 kobo per share.

Then again, Linkage Assurance drove the washouts' diagram by 9.88 percent to close at 73 kobos, per share. Champion Breweries followed with 9.84 percent to close at N3.39 kobo.

Rule Alliance Insurance fell 9.38 percent to close at 29 kobos. African Alliance Insurance sheds 9.09 percent to close at 20 kobos, and Wapic Insurance lost 8.47 percent to close at 54 kobos, per share.

The all-out volume exchanged likewise fell by 9.2 percent to 504.837 million offers worth N5.310 billion, exchanged 5,887 arrangements.

Exchanges in the Union Bank of Nigeria (UBN) beat the action diagram with 75.550 million offers esteemed at N434.421 million.

Assurance Trust Bank followed with 60.667 million offers worth N2.01 billion, while FCMB Group exchanged 50.404 million offers at N173.546 million.

Transnational Corporation of Nigeria (Transcorp) exchanged 44.351 million offers esteemed at N45.914 million, and Zenith Bank executed 31.504 million offers worth N831.984 million.

Earlier today, https://tradenaira.com/news/coronavirus-ncdc-ncc-enact-6232-complementary-code-for-confirmed-data

Also, https://tradenaira.com/news/man-condemned-to-death-by-hanging-for-armed-theft



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