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HomeBusinessNigeria's equity market sustains gain streak with N103 bln increase in cap

Nigeria’s equity market sustains gain streak with N103 bln increase in cap

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By Ifeyinwa Ezeokoli

Nigeria’s equity market extended the bullish run on Tuesday with a gain of N103 billion following buying interests in Nigerian Breweries and 25 other stocks.

The buying interest spurred a 0.36 percent, or 188.04 points, increase in the All-Share Index to close at 52,419.33.

Accordingly, the month-to-date return closed flat, while the year-to-date gain increased to +2.3 percent.

Also, the market capitalization gained N103 billion to close at N28.543 trillion.

The uptrend was impacted by gains recorded in medium- and large-capitalized stocks, amongst which are Nigerian Breweries, Guaranty Trust Holding Company (GTCO), Nigerian Aviation Handling Company, PZ Cussons, and Zenith Bank.

As measured by market breadth, market sentiment was positive, with 26 stocks gaining relative to 19 losers.

Nigerian Breweries led the gainers’ chart in percentage terms with 9.97 percent to close at N35.30 per share.

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FTN Cocoa Processors followed with 9.68 percent each to close at 34k, while Sovereign Trust Insurance rose by 9.52 percent to close at 46k per share.

Cornerstone Insurance rose by 8.82 percent to close at 74k, while Transcorp appreciated by 7.75 percent to close at N3.06 per share.

On the other hand, CWG led the losers’ chart in percentage terms by 9.63 percent to close at N1.69 per share.

Courteville Business Solutions followed with a decline of 6.52 percent to close at 43k, while Ardova declined by 6.06 percent to close at N24.80 per share.

GlaxoSmithkline Consumer Nigeria depreciated by 4.41 percent to close at N6.50, while Royal Exchange declined by 4.00 percent to close at 48k per share.

The total volume traded declined by 7.91 percent to 576.85 million units, valued at N6.79 billion, exchanged in 6,143 deals.

Transactions in the shares of United Bank for Africa topped the activity chart with 94.31 million shares valued at N795.91 million.

Transcorp followed with 86.42 million shares worth N261.68 million, while Access Holdings traded 62.42 million shares valued at N635.67 million.

Zenith Bank traded 57.39 million shares valued at N1.404 billion, while FBN Holdings sold 47.44 million shares worth N571.49 million.

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

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