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NSE’s ASI falls below 29,000bpts as wild sell-offs continue


Nigeria stock exchange• New participating institutions join over-the-counter market

The equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 1.39 per cent to close at 28,807.13basis points, compared with the 2.22 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 16.88 per cent.

Market breadth also closed negative as Fidelity Bank led six gainers against 36 losers topped by Caverton at the end of yesterday’s session- an unimproved performance when compared with previous outlook.

Market turnover however closed positive as volume surged by 134.36 per cent against 25.45 per cent decline recorded in the previous session. UBA, Resortsal and Transcorp were the most active to boost market turnover. Guaranty and Zenith Bank topped market value list.

Volume shockers included Resortsal which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

Meanwhile, the National Association of Securities Dealers[NASD] Over-The-Counter[OTC] market have community have continued to grow as five new participating institutions were approved to join the OTC Market last week.

This brings the total number of participating institutions to 107.

They are Bestworth Assets and Trust Limited; Capital Express Securities Limited; EFCP Limited; Mayfield Investments Limited as well as Mutual Alliance Investment and Securities Limited.

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