The equity market opened the new week on a bullish note following renewed interest in banking stocks.
The financial services sector experienced a downturn in the past week on the Nigerian Exchange Limited due to retracement in the prices of key stocks, not to mention investors’ appetite for stocks listed on the industrial goods index.
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However, at the close of trading on Monday, sub-sector indices showed bullish results, with the banking index leading gainers with a two per cent increase, driven by buy pressure in five banks.
The Insurance sector recorded a gain of 1.48 percent, while the Consumer and Industrial Goods indexes saw mild gains of 1.09 percent and 0.11 percent, respectively. The Oil/Gas sector was the sole loser declining by 0.23 per cent, primarily due to sell sentiments in Eterna Plc.
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