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HomeBusinessLocal bourse gains N19 bln on first trading day after Easter break

Local bourse gains N19 bln on first trading day after Easter break

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By Ifeyinwa Ezeokoli 
Activities on the nation’s bourse resumed after the two day break to mark the Easter celebrations on Tuesday with a gain of N19 billion on sustained bullish activity.
Thus, the All-Share Index advanced by 35.48 points or 0.07 per cent to close at 47,545.86 from 47510.38 achieved on Thursday.
Consequently, the month-to-date and year-to-date returns increased to 1.2 per cent and 11.3 per cent, respectively.
Similarly, the market capitalisation inched higher by N19 billion to close at N25.632 trillion against N25.613 trillion posted on Thursday.
The NGX 30 Index increased by 0.11 per cent to close at 1,821.76 points as against 1,819.84 points at the previous close. Market turnover closed with a traded volume of 146.76 million units.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Guinness Nigeria, Stanbic IBTC Holdings, Unilever Nigeria, Cadbury Nigeria and FBN Holdings (FBNH).
Looking forward, United Capital Plc  expected some slowdown in the equities market after the heavy bargain hunting activities observed in the market, saying that “Also, we expect the dividend reinvesting activities to slow down.”
However, market sentiment was negative with 31 losers relative to 21 gainers. 
Meyer drove the gainers’ chart in percentage terms by 10 per cent to close at N1.76 per share. 
Guinness followed with 6.86 per cent to close at N74.80, while NPF Microfinance Bank rose by 6.80 per cent to close at N2.20 per share.
Cadbury rose by five per cent to close at N8.40, while Unilever appreciated by 4.51 per cent to close at N12.75 per share. 
On the other hand, Academy Press led the losers’ chart in percentage terms by 9.72 per cent to close at N1.30 per share. 
John Holt followed with 9.30 per cent to close at 78k, while Japaul Gold and Ventures depreciated by 9.09 per cent to close at 30k per share.
Neimeth International Pharmaceuticals lost 8.23 per cent to close at N1.45, while Pharma Deko Plc depreciated by 7.51 per cent to close at N1.60 per share.
In all, the total volume of shares traded declined by 5.1 per cent to 365.45 million units valued at N7.11 billion exchanged in 5,790 deals. 
This was against 388.18 million shares worth N4.02 billion transacted in 6,212 deals on Thursday.
Transactions in the shares of Fidelity Bank topped the activity chart with 33.76 million shares valued at N132.13 million.
Access Holdings followed with 23.96 million shares worth N247.07 million, while MTN Nigeria Communications traded 22.15 million shares valued at N4.72 billion.
Omatek Ventures sold 17.899 million shares worth N3.58 million, while R.T. Briscoe Nigeria transacted 15.07 million shares valued at N8.89 million.

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