Afrigather 
Market Closes Flat After Bearish Development
The Nigerian Change Restricted closed flat on Wednesday following days of bearish buying and selling.
On the finish of the buying and selling, the All-Share index settled at 51,953.41 factors. Consequently, year-to-date returns got here in at 1.37 per cent whereas market capitalisation stood at N28.300tn.
Market actions confirmed that commerce turnover waned relative to the day past’s session, with the amount and worth of transactions down by 85.19 per cent and 62.68 per cent respectively. A complete of 255,160,869 million items of shares valued at N1.79bn had been exchanged in 3,890 offers.
Efficiency throughout tracked indices was largely bullish because the insurance coverage, client and industrial items indices led the gainers’ chart up by 0.31 per cent, 0.19 per cent and 0.01 per cent respectively, attributable to purchase pursuits AIICO (+3.51 per cent) INTBREW (+7.41 per cent) and CUTIX (+3.60 per cent ). On the opposite aspect, the Banking index declined by 0.09 per cent, owing to promote pressures in UBA (-1.17 per cent) and FBNH (-0.90 per cent).
Transcorp led the amount chart with 117.53m items whereas Zenith Financial institution led the worth chart with 11.38m items traded in offers price N290.04m.
Buyers sentiment as measured by market breadth improved reflecting 18 gainers towards the 11 decliners.
Nonetheless, analysts at SCM Capital Restricted, said that the “the present development of combined sentiments to proceed this week because the market appears to be like for a significant catalyst that might spark optimistic sentiments.”
