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Nigeria’s equities market ends eight days losing streak, climbs 10bps on gains in banking, conglomerate

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By Samuel Bankole

The Nigerian Exchange (NGX) All-Share Index bounced back from eight consecutive sessions of losses on Wednesday, posting a 0.10% increase to close at 99,908.89 points.

Despite declines in GTCO (-2.85%), UBA (-1.09%), and INTBREW (-2.17%), buying interest in FBNH (+6.93%), ACCESS CORPORATION (+2.65%), and TRANSCORP (+1.12%) propelled the rebound.

Consequently, the year-to-date (YTD) return climbed to 33.61%, with the market capitalisation adding N57.00 billion to reach N56.50 trillion.

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Today’s market analysis revealed a decrease in trade turnover compared to the previous session, with transaction value declining by 30.56%.

A total of 322.66 million shares valued at N5.82 billion exchanged hands in 9,074 deals.

UBA (-1.09%) led in volume traded with 55.01 million units, while ZENITH BANK (0.00%) dominated in value traded with deals worth N1.69 billion.

Despite the uptick, market breadth closed negative with declining issues outnumbering advancing ones at a ratio of 0.14-to-1. LIVESTOCK (-10.00%) led the laggards among twenty-five others, while IKEJA HOTEL (+10.00%) topped the leaders among fifteen others.

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

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