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HomeBusinessNigeria's equity market climbs N18 bln on gains in Stanbic IBTC, 24...

Nigeria’s equity market climbs N18 bln on gains in Stanbic IBTC, 24 other stocks

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By Ifeyinwa Ezeokoli

The Nigerian equity market on Wednesday continued its resurgence as the market ended positively with N18 billion growth due to gains in Stanbic IBTC Holdings and 24 others.

Thus, the market capitalization rose by N18 billion to close at N27.871 trillion.

Also, the All-Share Index inched higher by 39.49 points, representing an increase of 0.08 percent, to close at 51,178.41.

Accordingly, the month-to-date and year-to-date returns settled at -5.6 percent and -0.1 percent, respectively.

The market gain was driven by price appreciation in large and medium-capitalized stocks, among which are Stanbic IBTC Holdings, International Breweries, PZ Cussons, Nigerian Aviation Handling Company, and Transcorp.

As measured by market breadth, market sentiment closed positive with 25 gainers in relation to eight losers.

Transcorp dominated the gainers chart in percentage terms with 9.85 percent to close at N2.23 per share.

International Breweries followed with 6.74 percent to close at N4.75 per share, while Academy Press gained 6.56 percent to close at N1.30 per share.

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Livestock Feeds rose by 4.26 percent to close at 98k, while RT Briscoe Nigeria appreciated by 4.17 percent to close at 25k per share.

On the other hand, FTN Cocoa processors led the losers’ chart in percentage terms by 3.85 percent to close at $25,000 per share.

Prestige Assurance followed with a loss of 2.50 percent to close at 39, while Nigerian Breweries declined by 1.50 percent to close at N36.20 per share.

Lafarge Africa shed 1.47 percent to close at N23.40, while Africa Prudential dipped by 0.92 percent to close at N5.40 per share.

However, the total volume traded declined by 30.1 percent to 1.27 billion units valued at N3.98 billion exchanged in 3,505 deals.

Transactions in the shares of Transcorp topped the activity chart with 1.14 billion shares valued at $2.14 billion.

Fidelity Bank followed with 19.52 million shares worth N102.59 million, while Zenith Bank traded 16.49 million shares valued at N359.07 million.

Guaranty Trust Holding Company traded 15.09 million shares valued at N379.99 million, while Dangote Sugar Refinery transacted 8.97 million shares worth N154.79 million.

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

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