First trading day: Equities market lost 1.15%

The Nigerian equities market closed the first trading session of the year in the red, losing 1.15per cent.Similarly, market breadth index was negative with 16 gainers against 22 stocks that declined.

Today’s performance was driven by the losses in NB 8.42per cent, Lawunion 8.33per cent, Honeyflour -7.81per cent, Champion -7.54per cent, Unitybnk-6.54per cent and FCMB -4.76per cent which offset the gains in Jberger +9.95per cent, Vitafoam +9.55per cent, Royalex +9.09per cent, Uniondac +8.00per cent and Custodian +7.96per cent.

Sectors were largely negative today with Consumer Goods -2.30per cent emerging the worst performer, followed by Industrial -1.20per cent and Oil & Gas -0.66per cent. However, Banking +0.08per cent closed in the green.

In terms of activity level, total volume and value declined by 77per cent and 61per cent respectively as investors exchanged 214million units of shares worth N1.56billion. Diamond -1.38per cent was the most actively traded with about 51million units of shares worth N112million.

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