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HomeBusinessFBNH leads the charge as Nigerian equities rebound, gaining N165.09 bln

FBNH leads the charge as Nigerian equities rebound, gaining N165.09 bln

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By Samuel Bankole

In a notable deviation from the previous session’s downturn, Nigeria’s equities market showcased remarkable resilience on Wednesday, registering gains as the benchmark index ascended by 0.30% to a closing figure of 101,362.38 points.

Noteworthy performances from BUA CEMENT (+4.93%), UBA (+0.21%), and FBNH (+9.96%) managed to outweigh setbacks experienced by ZENITH BANK (-0.42%), GTCO (-0.77%), and ACCESS CORP (-2.70%), maintaining an overall positive trajectory.

The All-Share Index (ASI) year-to-date (YTD) return reached an impressive 35.56%, and the market capitalization recorded a substantial increase of N165.09bn, concluding the session at N55.46 trillion.

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A comprehensive analysis of today’s market activities revealed a slight dip in trade turnover compared to the previous session, with the value of transactions decreasing by 1.15%.

The market witnessed a total exchange of 302.74 million shares valued at N6.55 billion across 8,611 deals. FBNH (+9.96%) emerged as a dominant player, leading both the volume and value charts with 39.38 million units traded, amounting to deals worth N1.10 trillion.

However, market breadth concluded on a negative note, with a 4.20-to-1 ratio favouring declining issues over advancing ones.

OKOMUOIL (-10.00%) claimed the top position among forty-one others on the laggard’s table, while FBNH (+9.96%) spearheaded the leaders with an impressive performance, outshining nine others.

This positive market momentum underscores the agility and adaptability of Nigeria’s equity landscape amid global economic uncertainties.

(Edited by Oludare Mayowa; omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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