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Gains in shares of Unilever, Access push up equity market as naira firms 0.02%

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By Samuel Bankole 

The Nigerian equity market closed on a positive note on Friday as all the market indicators gains on the back of rally in the stocks of Access Holdings, Unilever and Custodian Insurance.

The All Share Index marginally increased by 0.02 per cent to close at 51,829.67 compared with 51,817.59 points the previous day.

The market capitalisation of equities listed on the NGX also increased to N27.942 trillion from N27.935 trillion the previous trading day.

The total volume traded closed with an exchange of 127.030 million units valued at N1.71 billion traded in 3,718 deals.

The market breadth was positive with 20 gainers as against 16 losers.

The NGX 30 Index marginally increased by 0.05 per cent to close at 1,888.50 points as against 1,887.62 points at the previous close.

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Market turnover closed with a traded volume of 75.71 million units. Custodian and Unilever were the key gainers, while Fidelity and Dangote Sugar were the key losers.

The shares of Custodian Insurance gained 4.29 per cent at the close of business, while Unilever traded higher by 3.38 per cent.

Also, Access Corporation, the holding company of Access Bank Limited close higher by 1.62 per cent, Sterling Bank ticks up by 1.32 per cent while Zenith Bank closed higher by 0.65 per cent.

On the reversed side, the shares of Fidelity Bank lost 3.51 per cent of its value, Dangote Sugar declined by 1.84 per cent while United Bank for Africa (UBA) fell 0.67 per cent and GTCO dropped 0.24 per cent.

On the money market, the Overnight (O/N) rate was stable at 14.00 per cent, while the Open Repo (OPR) increased by 0.17 per cent to close at 14.00 per cent against the last close of 13.83 per cent the previous day.

At the I&E FX market, the Naira appreciated by 0.01 per cent as the dollar was quoted at N425.00 against the last close of N425.05.

Traders said most participants maintained bids between N413.00 and N444.00 per dollar.

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