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Nigerian stocks close flat amid poor market liquidity

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The Nigerian Exchange Limited (NGX) stock market ended yesterday’s trading session with a loss of 0.07 percent as investors’ gloomy moods persisted throughout trading for the fourth straight day.

To conclude at 49,440.21 index points, the NGX All-Share Index decreased by 35.21 index points or 0.07 percent. The market capitalization as a whole also decreased by N19 billion to close at N26.7 trillion.

The total number of transactions, meanwhile, decreased by 37.33 percent to 3,386 trades totaling 67.369 million units for N1.480 billion. The most active activity was in the 9.673 million shares of FBN Holdings (FBNH) valued at N96.557 million.

Losses in medium- and large-capitalized stocks, including Seplat Energy, University Press, AXA Mansard Insurance, United Capital, and Guaranty Trust Holding Company, had an impact on the downturn (GTCO).
11 stocks increased and 11 stocks decreased, resulting in flat market breadth. The biggest price increase was posted by e-Tranzact International, which rose 9.97% to settle at N3.20 per share.

Vitafoam Nigeria increased by 5.00% to close at N21.00 per share, and Academy Press gained 9.52 percent to close at N1.84.
Cornerstone Insurance increased by 3.33 percent to conclude at 62 kobo per share, while Honeywell Flour Mill increased by 3.36 percent to close at N2.46.

On the other hand, Associated Bus Company led the list of losers by 10% and finished at 27 kobo per share. Mutual Benefits Assurance dropped by 6.90% to close at 27 kobo per share, while University Press dropped by 9.44% to conclude at N1.63.
Courteville Business Solutions lost 6.12% to close at 46 kobo per share, while R.T. Briscoe Nigeria lost 6.25 to close at 30 kobo.

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