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The equities market closed relatively flat to open the week, as the All Share Index dipped slightly by 0.04% to close at 34,121.78 points. Thus, the YTD performance currently stands at 27.56%.



A total volume of 568million units of shares, valued at N7.32billion exchanged hands in 8,928 deals. ZENITHBANK was the most traded shares by volume and value at 79.7million units and N1.91billion

Market sentiment was negative as market breadth came in at 9.2x as there were 46 decliners and 5 advancers.



Sectorial performance was bearish as Banking, Consumer Goods, Insurance, Oil & Gas were down by 4.72%, 2.07%, 2.07%, and 1.62%, while the Industrial index closed as the lone gainer, up by +2.72%.



Sector performance

NSE Banking Index: Down by -4.72%, on sell-offs in WEMABANK (-9.09%), ACCESS (-8.14%), UBA (-6.10%) and ZENITHBANK (-5.66%).

NSE Consumer Goods Index: Fell by -2.07%, due to sustained losses in GUINNESS (-9.55%), PZ (-9.43%), and FLOURMILL (-8.43%).

NSE Insurance Index: Dipped by -2.07%, on price decline in CUSTODIAN (-10.00%), CHIPLC (-9.38%) and LINKASSURE (-9.09%).

NSE Oil & Gas Index: Dipped by -1.62%, as ARDOVA (-10.00%) and OANDO (-9.97%) declined in price.

NSE Industrial Index: Up by +2.72% due to the price appreciation in BUACEMENT (+4.77%) and DANGCEM (+3.42%).

 

MorganCapital Research

 

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