“We maintain our bearish outlook on the equities market pending the corporate earnings release of tier-one Banking stocks.” BankingStock MarketCapitalization Banks Nigeria
The All-Share Index decreased by 23.38 absolute points, representing a dip of 0.08 percent to close at 27,547.56 points. Similarly, the overall market capitalisation size shed N13billion to close at N14.347trillion.
Analysts at Afrinvest Limited, said: “We maintain our bearish outlook on the equities market pending the corporate earnings release of tier-one Banking stocks. However, we note that there are opportunities for bargain hunting.” Consequently, market breadth closed negative, recording 12 gainers against 13 losers. UACN Property Development Company, and Wapic Insurance recorded the highest price gain of 10 per cent each to close at 99 kobo and 33 kobo, respectively, while C & I Leasing followed with 7.41 per cent to close at N5.80, per share.
On the other hand, Law Union and Rock Insurance led the losers’ chart by 4.81 per cent to close at 99 kobo, per share. Japaul Oil and Maritime.
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