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Nigeria’s equity flats as gains in Dangote Sugar, IB, counter by losses in UBA, FBNH

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By Ifeyinwa Ezeokoli

The domestic bourse traded with mixed sentiments as buying interests in International Breweries (7.4 percent) and Dangote Sugar (+1.5 percent) offset losses in UBA (-1.2 percent) and FBNH (-0.9 percent).

Thus, the All-Share Index closed flat at 51,953.41 points, with the month-to-date and year-to-date returns unchanged at -4.2 percent and +1.4 percent, respectively.

Also, the market capitalisation closed flat at N28.300 trillion.

The slight upturn was impacted by gains recorded in medium and large-cap stocks, amongst which are Berger Paints, Skyway Aviation Handling Company, International Breweries, Dangote Sugar Refinery, and Multiverse Mining and Exploration.

However, market sentiment was positive, with 17 gainers compared to 11 losers.

Skyway Aviation Handling Company topped the gainers’ chart with 10 percent to close at $5.50 per share.

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Associated Bus Company followed with 9.68 per cent to close at 34K, and Berger Paints was up by 8.57 per cent to close at N7.60 per share.

International Breweries rose by 7.41 percent to close at N4.35 per share, while Multiverse Mining and Exploration gained 4.17 percent to close at N2.50 per share.

On the other hand, Royal Exchange led the losers’ chart in percentage terms by 10 percent to close at 54 a share.

Champion Breweries followed with 9.84 per cent to close at N4.58 while Computer Warehouse Group declined by 7.53 per cent to close at 86k per share.

Mutual Benefits Assurance lost 5.88 percent to close at 32,700, while Nigerian Exchange Group shed 4.23 percent to close at N24.90 per share.

Also, the total volume traded declined by 85.2 percent to 255.16 million units valued at N1.79 billion exchanged in 3,890 deals.

Transactions in the shares of Transcorp topped the activity chart with 117.53 million shares valued at N163.06 million.

Fidelity Bank followed with 38.03 million shares worth N200.39 million, while United Bank for Africa traded 19.82 million shares valued at N169.19 million.

Zenith Bank traded 11.39 million shares valued at N290.04 million, while Royal Exchange transacted 5.93 million shares worth N3.26 million.

(omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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