Stock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01%

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Equities market closed the day’s trading session in the red zone as the NSE All-Share Index and Market Capitalisation depreciated by 0.01% to close at 38,800.01 and ₦20.28 trillion respectively.

The Year-to-Date (YtD) and the Quarter-to-Date (QtD) returns stand at 44.55% and 44.60%, while the Month-to-Date (MTD) and Week-to-Date returns stand at 10.72%and 5.42% respectively.

NSE Sector Indices:

Of all the Industries on the NSE within our coverage, 3 sectors advanced in points, while 3 sectors declined. The NSE sector indices that advanced in points were NSE INSURANCE (+2.13%), NSE OIL &GAS (+0.95%) and NSE CONSUMER GOODS (+0.26%), while the sectors that declined in points were NSE 30 (-0.07%), NSE PREMIUM (-0.14%) and NSE BANKING (-0.22%).

The market breadth (gainers/losers) of 2.63x for the day indicates that the number of buyers outpaced the number of sellers in the market today. At the end of the day’s trading, 21 stocks advanced as 8 stocks declined; FTNCOCOA (+9.88%), LASACO (+9.68%) and OANDO (+8.66%) led the gainers’ chart while CHAMPION (-7.87%), WAPCO (-4.76%) and JAIZBANK (-4.76%) led the losers’ chart for the day.

The day’s trading activities by volume was led by ZENITHBANK (84.43million), GUARANTY (59.18million) and FLOURMILL (56.16million) while the activity by value was led by ZENITHBANK (₦2.13billion), GUARANTY (₦1.94billion) and FLOURMILL (₦1.57billion).

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Outlook:

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Stock market reversed previous gains as Investors lose 1.95bn: NSE ASI depreciated by 0.01%. There are optimisms that the bulls will recover the market in the coming days. We, therefore, advise our clients not to engage in panic selling as we expect the equity market to maintain positive growth due to the expectation of dividend payment in early 2021 and lower yields in fixed income market

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Stock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand SpurStock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand Spur

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Stock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand SpurStock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand Spur

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- Advertisement -Stock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand SpurStock Market Reverses Previous Gains As Investors Lose 1.95bn: NSE ASI Depreciates By 0.01% - Brand Spur