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Nigeria’s equity rises 0.20% on Seplat, Flour Mills as Naira closes at N429.13 on I&E

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By Samuel Bankole 

The Nigerian equity market opened the week on a positive note on Monday with the index rising by about 0.20 per cent on gains in the shares of Seplat and Flour Mills.

The All Share Index increased by 0.20 per cent to close at 52,319.94 points from 52,215.12 points on Friday.

The market capitalisation of equities listed on the NGX increased to N28.214 trillion from N28.158 trillion the previous trading day.

The total volume traded closed with an exchange of 116.281 million units valued at N3.46 billion traded in 4,525 deals. However, the market breadth was negative with 16 gainers as against 22 losers.

The NGX 30 Index increased by 0.20 per cent to close at 1,899.50 points against 1,895.62 points at the previous close.

Market turnover closed with a traded volume of 65.46 million units. Seplat and Flour Mills were the key gainers, while Nigerian Breweries and UBN were the key losers.

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Shares of Seplat Energy ticks up 1o per cent gain, Flour Mills rises 2.41 per cent and followed by Sterling Bank which rises 1.97 per cent.

Other gainers include GTCO, which gained 1.91 per cent and United Capital with 1.58 per cent gains.

On the flip side, the shares of Nigerian Breweries declined by 5.10 per cent, followed by Union Bank was down by 0.92 per cent, Zenith Bank falls 0.90 per cent, Fidelity Bank falls 0.31 per cent while MTN Nigeria falls 0.13 per cent.

On the money market, the Overnight (O/N) rate remained unchanged at 14.00 per cent, while the Open Repo (OPR) increased by 0.17 per cent to close at 14.00 per cent against the last close of 13.83 per cent.

Also, at the I&E foreign exchange market, the Naira appreciated by 0.28 per cent as the dollar was quoted at N429.13 against the last close of N430.33 to the greenback.

Traders said most participants maintained bids between N414.00 and N444.00 per dollar.

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