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By UMORU ABDULKADIR
MTN Nigeria recorded +1.5%, NESTLE Nigeria got +1.7% and Dangote Cement +0.6%.
Similarly, YTD loss slowed to -12.1% and market capitalisation increased by N134.6bn to close at N13.4trn.
However, activity level declined as volume and value traded dipped by 25.1% and 0.4% respectively to 272.6m units and N4.5bn.
The most active stocks by volume were Zenith Bank (54.3m units), Guaranty Bank (38.2m units) and Transnational Corporation (32.1m units) while Guaranty Trust Bank (N1.0bn), Zenith Bank (N977.5m) and Nestle Nigeria (N897.5m) led by value.
All sectors except the Oil and Gas sector ended in the green territory.
The Oil & Gas index was the lone loser, shedding 0.3% due to price depreciation in MRS Oil (-9.8%) and Oando Nigeria (-1.3%).
The Banking index led the gainers chart as it went up by 2.5% following bargain hunting in Zenith Bank (+2.9%) and Guaranty Trust Bank (+2.9%) while the AFR-ICT index gained 0.9% due to sustained interest in MTN Nigeria (+1.5%).
Also, the Consumer and Industrial Goods indices rose by 0.8 per cent and 0.7 per cent respectively, following price appreciation in Nestle Nigeria (+1.7%), Nigerian Breweries (+1.2%), Cement Company of Northern Nigeria (+2.8%) and Dangote Cement (+0.6%).
The Insurance index also advanced by 0.6% due to buying interest in WAPIC (+8.8%) and AIICO (+3.1%).
Investor sentiment as measured by market breadth (advance/decline ratio) inched up to 1.7x from 1.4x in the previous trading session as 22 stocks gained against 13 losers.
The top gainers were Eterna Oil (+10.0%), Ecobank Transnational Incorporation (+9.5%) and WAPIC (+8.8%) while UPL (-10.0%), NCR (-10.0%) and MRS Oil (-9.8%) were the top losers by percentage gained and lost.
Analysts at Afrinvest Securities Limited expect the market to remain bearish as the broader investor sentiment in the economy remains weak.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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