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Okomu, Unilever, Zenith, others cause stock market’s new lows

Nigeria’s stock market failed to rebound on Wednesday September 9, 2020 following record dip in prices of equities like Okomu Oil Palm, Unilever Nigeria, Zenith Bank, C&I Leasing and UACN.

The record dip seen on Wednesday, the third time this week at the Nigerian Stock Exchange (NSE) helped increase the market’s negative return year-to-date (YtD) to -5.28percent. Also, the positive returns seen month-to-date (MtD) has decreased to 0.39percent.

The Nigerian Stock Exchange All Share Index (ASI) decreased by -0.28percent to 25,424.91 points from preceding day’s high of 25,497.32 points while the market capitalisation stood lower at N13.263trillion as against N13.301trillion recorded the preceding trading day.

Investors lost N38billion. In 4,155 deals, investors traded 269,629,692 units valued at N2.87billion.

Zenith Bank, FBN Holdings, UBA, GTBank and Access Bank were actively traded stocks. Okomu Oil decreased most from N79 to N78, losing N1 or 1.27percent. Unilever Nigeria followed from N15 to N14.4, down 60kobo or 4percent.

Zenith Bank decreased from N16.9 to N16.4, losing 50kobo or 2.96percent. C&I Leasing dipped from N3.9 to N3.55, shedding 35kobo or 8.97percent; UACN dropped from N6.3 to N6, down by 30kobo or 4.76percent.

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