Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares

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In the just concluded week, the domestic equities market closed southwards as investors booked profit given the recent price increases in blue-chip stocks across sub-sectors, especially banking subsector.

Hence, the NSE ASI tanked week-on-week by 0.05% to close at 25,591.95 points.

Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares

Similarly, sub-sector performance was tepid as most of the gauges tracked closed in red save the NSE Industrial index which rose by 0.35% to 1,128.20 points.

The NSE Banking index led the laggards by 2.69% to close at 293.97 points as most investors sold off their holdings to take profit on Tier 1 tickers. Similarly, the NSE Insurance, NSE Consumer Goods and the NSE Oil/Gas indices moderated by 0.66%, 0.27%, 1.25% to close at 134.11 points, 432.11 points, and 191.77 points respectively.

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Meanwhile, market activity was mixed as total deals and Naira votes rose by 9.09% and 6.77% to 19,529 deals and N10.84 billion respectively. However, the total value of stock traded moderated by 2.32% to 1.22 billion shares.

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Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares - Brand SpurLagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares - Brand Spur

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Lagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares - Brand SpurLagos Bourse Declines by 0.05% as Investors Book Profit on Banking Shares - Brand Spur

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