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    Amidst Bargain-Hunting, Investors Gained ₦11 Bn in 5-days

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    The Nigeria equity market this week reversed the previous week’s negative sentiment with a marginal growth of 0.06%, following the improved investor appetite in three of the five trading session.

    The growth was driven by price appreciation in 21 stocks.

    Resultantly, the All-Share Index grew by 22.09 basis points, representing an increase of 0.06% to close at 38,943.87, while the Market Capitalization gained ₦11.14 billion, representing a growth of 0.05%, to close at ₦20.29 trillion.

    The disparity in the ASI and Market Cap. follows the ₦0.30 interim dividend price adjustment on Access Bank Plc stock.

    On the other hand, SCOA receded 18.46%w/w to led the losers’ chart, trailed by ETERNA (-9.44%w/w), SEPLAT (- 6.54%w/w), OKOMUOIL (-5.45%w/w), WAPCO (-4.02%w/w), UACN (-3.38%), ACCESS (-2.71%w/w), ZENITHBANK (- 0.83%w/w), FBNH (-0.66%w/w) and OANDO (-0.22%w/w), as 38 stocks depreciated during the week.

    Subsequently, only three of the five major sectors had a positive sentiment, led by Oil & Gas with 2.28%w/w gain, followed by Consumer Goods with 0.18%w/w growth and Industrial Goods sector with 0.004%w/w marginal increase.

    Whereas, the Banking and Insurance sectors shed 0.96%w/w, and 3.39%w/w, respectively.

    Meanwhile, a total of 856.29 million shares valued at ₦10.75 billion in 12,663 deals were traded in the week, compared to 1.43 billion shares worth ₦13.07 billion in 19,315 deals traded in the prior week.

    Outlook
    We expect the bargain hunting to sustain amid the decline of fundamental stocks in recent times.

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