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Equities market closed red, losing 0.96 %

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The Nigerian equities market closed the second trading session of the year in the red, losing 0.96per cent. Similarly, market breadth index was negative with 13 gainers against 24 stocks that declined.

Today’s performance was driven by the losses in Glaxomith -10.00per cent UPL -9.63per cent, Mcnichols -8.51per cent, FCMB -8.33per cent and Firstalum -8.33per cent which offset the gains in FO +9.64per cent, UBN +8.04per cent, Transexpr +7.69per cent, Jberger +5.20 and JaizBank +3.85per cent.

Sectors were largely negative today with Industrial -2.83per cent emerging the worst performer, followed by Banking -2.15 per cent and Consumer Goods -0.02per cent. However, Oil & Gas +0.64per cent closed in the green.

In terms of activity level, total volume and value declined by 21per cent and 28per cent respectively as investors exchanged 169million units of shares worth N1.13billion. Diamond Bank 6.98per cent was the most actively traded with about 51million units of shares worth N107million.

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