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Stocks remain bearish as market downturn extended by N16bn

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Nigerian Stock Exchange (NSE)

Transactions in the Nigerian equity market, on Tuesday, December 8, remained bearish as stocks pushed the All-Share Index marginally by 0.09 percent.  

Techeconomy.ng can report that the market breadth also closed negative, with 14 gainers against 18 losers.

The downtown of the market also affected the capitalisation of equities depreciated by N16bn from N18.33tn the previous day to N18.31tn.

Also the market turnover 307.72 million shares exchanged in 4,507 deals was recorded in the day’s trading.

Suffice to say that the volume in the subsector was largely driven by activities in the shares of Zenith Bank Plc and United Bank for Africa Plc.

On the premium subsector, it was the most active (measured by turnover volume), with 201.76m shares exchanged by investors in 1,585 deals.

Checks by this medium confirmed that the banking subsector was boosted by the activities in the shares of Guaranty Trust Bank Plc and Ecobank Plc followed with a turnover of 32.12m shares in 838 deals.

 

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