Frail investors’ confidence force Nigerian stocks to 35-day low

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That is coming at a time of more attractive yields in the fixed income market.

Key drivers of Monday’s loss were broad across sectors from real estate to banking and consumer goods, where UPDC, FBN Holdings and Guinness led the retreat.The all-share index was down 6.16 points at 38,915.62, while the market capitalisation slowed to N20.3 trillion.Morison appreciated 9.37 per cent to N2.10. Sovereign Trust climbed by 8 per cent to N0.27. Linkage Assurance added 5.26 per cent to end trade at N0.60.

Fidelity advanced by 4.35 per cent to N2.40. International Breweries rose to N5, notching up 4.17 per cent in the process.SCOA led laggards, declining by 10 per cent to close at N1.17. Academy shed 7.69 per cent to end trade at N0.36. UPDC fell to N1.51, losing 6.21 per cent. ABC Transport declined to N0.33, recording 5.71 per cent decline. Oando closed at N4.45, going down by 4.09 per cent.

 

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