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Thursday, May 19, 2022

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Nigeria’s equity market gains on back of Lafarge, Zenith, others rally

By Samuel Bankole

Nigeria’s equity market rebounced on Tuesday after a week long depression of share prices as increases in prices of cement and banking stocks put smiles on the faces of investors at the close of trading on the floor of the local bourse.

The main market index, the All Share Index (ASI) marginally increased by 0.02 percent to close at 42,018.92 points after investors poured into the shares Lafarge Africa, Zenith Bank, Ecobank, Fidelity Bank and GTCO.

The market capitalisation of equities listed on the NGX increased to N21.925 trillion from N21.920 trillion the previous day.

The total volume traded closed with an exchange of 639.442 million units valued at N6.63 billion traded in 4,564 deals. The market breadth was positive with 20 gainers as against 19 losers.

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The NGX 30 Index marginally increased by 0.03 percent to close at 1,683.06 points as against 1,682.49 points as on the previous day.

Market turnover closed with traded volume of 571.19 million units.

Investors pushed up the share price of Lafarge Africa by 5.41 percent to close at N23.60 per share, Zenith Bank ticks up 2.13 percent to close at N24 per share.

Also, the shares in Ecobank transnational Inc. closed up by 1.88 percent as the stock price up to N8.15, Fidelity share close up by 1.69 percent to N2.40 while GTCO close with 0.84 gain at N36.50 per share.

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