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Nigeria’s equities gain N324.26 bln lifted by increase in BUA Foods, Fidelity Bank stocks

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By Samuel Bankole

The Nigerian equity market closed on a positive note on Monday, primarily driven by gains in industrial heavyweights Transcorp, Dangote Sugar, and BUA Foods.

Shares in Transorp and Dangote Sugar rose the maximum 10 percent each, while BUA Foods gained 9.09 percent, Fidelity Bank was up 3.5 percent, Flour Mills 1.69 percent, FBNH 0.30 percent, and the United Bank for Africa (UBA) 0.36 percent.

The gains in the heavyweight stocks offset selloffs in the holding companies of Guaranty Trust Bank, GTCO (-0.28 percent), Access Corporation (-3.32 percent), and Nigerian Breweries (-2.11 percent).

The main market index, the All Share Index, increased by 0.90 percent to close at 66,151.38 points, while the market capitalization of equities listed on the NGX increased by N324.26 billion to N36.205 trillion from N35.881 trillion at the close of trading.

The total volume traded closed with an exchange of 311.117 million units valued at N3.92 billion traded in 7,193 deals.

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The market breadth was positive, with 34 gainers as against 24 losers.

The NGX 30 Index increased by 1.05 percent to close at 2,437.02 points as against 2,411.74 points at the previous close.

Market turnover closed with a traded volume of 140.64 million units.

The year-to-date (YTD) return rose to 29.07 percent, while the market capitalization YTD rose to 29.70 percent.

Access Corporation (-3.32 percent) led the volume chart and value chart with 43.70 million units traded in deals worth N703.33 million.

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

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