Stock Market: Bearish Market at a High, ASI down 2.33%

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Bearish sentiments continue to persist with the continuous decline in the market, as it once again closed flat. The industrial sector had the highest hit, equities dropped to the ten trillion margin.

These certainly took a toll on the ASI which plunged downwards by 2.33%, closing at 29,336.80. Equity capitalisation was at N10.939tn with a total of 3,806 deals. 

Unilever topped the chart for top gainers as the share price value increased by ₦3.25 kobo, Julius Berger also gained ₦2.35 kobo. Causing a big hit on the industrial sector was a massive shed of N16 in Dangote cement from its last close, while guaranty also dropped by 70 kobo.

For the second time in a row, diamond bank led the list of top trades, with a volume of 54.670 million shares, valued at ₦103.944 million. 

The oil and gas sector bounced back by 0.15%, consumer goods sector also rose by 0.74%, the banking sector continued in the negative terrain as it was down by 0.15%, the insurance sector was down 3.06% and the industrial sector had the biggest hit as it shed 4.35% .