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HomeBusinessNigeria stock market index up 1.25% as investors gain N223.9 bln

Nigeria stock market index up 1.25% as investors gain N223.9 bln

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By Samuel Bankole

The rally in the stocks of Cement, banking, and food companies on Wednesday pushed up Nigeria’s equity market with the main market index up at the end of trading.

The All Share-Index (ASI) rose 1.25 percent to close at 34,769.00 points compared with 34,340.56 points the market closed the previous day.

Consequently, investors gained N223.9 billion as market capitalisation rose to N18.2 trillion from N17.943 trillion while YTD returns improved to 29.5 percent.

The total volume traded closed with an exchange of 434.922 million units valued at N6.91 billion traded in 7,029 deals. The market breadth was positive with 37 gainers as against 11 losers.

Shares in the cement firm, Dangote Cement, which accounts for the fifth of the market capitalisation rose 2.60 percent to close at N205 per share.

Equally, Flour Mills of Nigeria closed the market up by 9.8 percent at N27.90 per share, FCMB was up 9.63 percent to close at N3.30 per share while PZ Cusson gained 7.3 percent to close at N5.15.

Dangote Cement has gained around 44.4 percent year to date, while Flour Mills of Nigeria has gained 41.6 percent YTD and FCMB gained 78.4 percent with PZ Cusson narrowed losses to 8.8 percent YTD.

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