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Banking stocks and others drive the market down by N19.49 billion

Banking stocks and others drive the market down by N19.49 billion

The Nigerian stock market started the week on a down note, with losses of N19.49 billion in banking and consumer goods firms, among others.

The NGX All-Share Index fell 0.09 percent to 43,270.94 basis points at the close of trading on the Nigerian Exchange Limited's floor, while the market capitalization fell to N22.58 trillion.

The total volume of shares traded declined by 30.19 percent, but the value exchanged increased by 34.05 percent, indicating mixed market activity.

In 4,105 transactions, a total of 213.13 million shares worth N2.36 billion were traded, compared to 305.32 million shares worth N3.58 billion in 4,450 transactions last Friday.

The most traded stock by volume was FCMB Group Plc, which accounted for 27.43 percent of the total volume of deals, while the most traded stock by value was Airtel Africa Plc, which accounted for 28.81 percent of the total value of trading on the exchange.

Market mood was negative, as assessed by market breadth, with 14 businesses gaining and 21 losing.

AIICO Insurance Plc was the day's greatest gainer, with a price increase of 8.57 percent to N0.76 per share, topping the gainers' chart.

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