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Diamond Bank, C&I Leasing, others lead equity market downturn



Promising stocks to watch for strategic investments

Nigerian Stock Exchanging in trading session

The decline recorded by Diamond Bank, C&I Leasing and 34 other stocks caused the equity market to finish the week ended November 16, 2018 in the red.

The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalization dipped 0.44 per cent to close the week at  32,058.28 and N11.704 trillion respectively.

Expectedly, all other indices finished lower with the exception of the NSE Consumer Goods and NSE Industrial Goods Indices that finished higher by 0.04 per cent and 1.02 per cent respectively, while NSE ASeM Index closed flat .

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Unity Bank had 30.99 per cent gain to top the 24 equities that appreciated in price during the week, while Diamond Bank recorded -29.69 per cent to lead the 36 equities that dipped this week.

Meanwhile, the bourse appreciated 0.61 per cent of Friday on the back of gains made by Mansard Insurance, GTBank, Flour Mill and 16 other gainers.

Investors exchanged a total of 1.285 billion shares worth N11.539 billion in 13,245 deals this week, compared 1.079 billion shares valued at N18.196 billion that exchanged hands last week in 14,372 deals. 

 The Financial Services Industry (measured by volume) led the activity chart with 890.433 million shares valued at N8.113 billion traded in 7,923 deals; thus contributing 69.31 per cent and 70.31 per cent to the total equity turnover volume and value respectively.

Diamond Bank Plc, Ikeja Hotel Plc, and FBN Holdings Plc, which were the most active stocks in terms of volume, accounted for 708.003 million shares worth N1.758 billion in 1,957 deals, contributing 55.11 per cent and 15.23 per cent to the total equity turnover volume and value respectively.

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