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HomeBusinessLocal bourse value rises marginally on accounts of gains in shares of...

Local bourse value rises marginally on accounts of gains in shares of Fidelity Bank, Access Corporation

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By Ifeyinwa Ezeokoli 


The local bourse recorded mixed performance on Tuesday with the value of the market increasing marginally by one billion naira as shares in Fidelity Bank, Lafarge Africa and Access Corporation tick up gains at the close of transactions on the floor of the Exchange.

Shares in Fidelity Bank top the chart with 3.02 per cent gains while that of Lafarge Africa rose 1.65 per cent and Access Corporation ticks up 0.56 per cent.

The market capitalisation of equities listed on the NGX increased to N26.768 trillion from N26.767 trillion as of the previous close.

Also, the All Share Index marginally increased by 0.004 per cent to close at 49,627.72 points compared with 49,626.05 points the previous trading day.

The month-to-date loss and year-to-date return are unchanged at -0.4% and +16.2%, respectively.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Lafarge Africa, Nigerian Exchange Group, Multiverse Mining and Exploration, NPF Microfinance Bank and Cutix.

On market outlook, GTI Securities Limited said “domestic market records marginal growth as uncertainty trail investors’ activities. We expect cautious trading to continue pending any significant changes in the economic conditions.”

However, market breadth closed negative with 16 losers against 13 gainers.

Multiverse Mining and Exploration led the gainers’ chart in percentage terms by 9.69 per cent to close at N2.83 per share. 

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NPF Microfinance Bank followed with 7.84 per cent to close at N1.65 and Pharma-Deko Plc went up 5.13 per cent to close at N2.05 per share.

Cutix up by 5.12 per cent to close at N2.26, while Fidelity Bank appreciated by 3.02 per cent to close at N3.41 per share. 

On the other hand, Red Star Express led the losers’ chart in percentage terms by10 per cent to close at N2.43 per share.  

Caverton Offshore Support Group followed with 4.55 per cent to close at N1.05, while Livestock Feeds lost 4.31 per cent to close at N1.11 per share. 

Sovereign Trust Insurance declined 3.70 per cent to close at 26k, while Lasaco Assurance shed 3.13 per cent to close at 93k per share.

The total volume of trades increased by 85.1 per cent to 160.24 million units valued at N1.49 billion and exchanged in 3,847 deals. 

Transactions in the shares of Zenith Bank topped the activity chart with 26.74 million shares valued at N536.65 million. 

Courteville Business Solutions followed with 24.10 million shares worth N11.33 million, while Transnational

Transcorp traded 16.25 million shares valued at N16.99 million.

International Energy Insurance traded 12.768 million shares valued at N20.429 million, while Chams transacted 9.314 million shares worth N3.22 million.

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