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Jaiz Bank drove activity chart on NSE

J dominated activity chart on the Nigerian Stock Exchange (NSE) on Thursday, just as the market maintained negative outlook.

Specifically, the bank accounted for 502.02 million shares worth N271.11 million.

It was trailed by Access Bank with a turnover of 84.33 million shares valued at N705.98 million, while Zenith Bank traded 52.94 million shares worth N907.32 million.

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Lafarge Africa sold 20.17 million shares valued at N282.42 million, while FBN Holdings traded 12.46 million shares worth N68.36 million.

Consequently, the volume of shares traded rose by 124.67 per cent as investors bought and sold 726.19 million shares valued at N2.97 billion traded in 3,040 deals.

This was in contrast with a total of 323.22 million shares worth N3.12 billion traded in 3,171 deals on Wednesday.

However, the market indices closed lower dropping by 0.14 per cent on increased profit taking.

The All Share Index lost 35.42 points or 0.14 per cent to close at 26,188.24 against 26,223.66 recorded on Wednesday.

Similarly, the market capitalisation shed N18 billion to close at N13.748 trillion compared with N12.765 trillion on Wednesday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, among which are; Unilever Nigeria, Stanbic IBTC, Cadbury, Dangote Sugar Refinery and Fidson Healthcare.

Analysts at Afrinvest Limited said “we believe the bearish momentum will be sustained in subsequent sessions as investors maintain a risk-off approach toward equities.”

Market breadth closed negative, with nine gainers against16 losers.
Regency Alliance Insurance recorded the highest price gain of five per cent to close at 21k, per share.

Chams followed with a gain of 4.35 per cent to close at 24k, while Jaiz Bank appreciated by 3.77 per cent to close at 55k per share.

AIICO Insurance grew by 2.94 per cent to close at 70k, while Guaranty Trust Bank inched 2.86 per cent to close at N27 per share.

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Conversely, Unilever Nigeria led the losers’ chart in percentage terms with a loss of 9.98 per cent to close at N21.65 per share.

Fidson Healthcare followed with a decline of 9.97 per cent to close at N3.25, while Union Diagnostic dipped 8.33 per cent to close at 22k per share.

Honeywell Flour Mills dropped 8.16 per cent to close at 90k, while NPF Microfinance Bank shed 7.56 per cent to close at N1.10 er share. (NAN)