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HomeBusinessNigeria's stock market rises marginally by  0.03%, triggered by gains in FBNH,...

Nigeria’s stock market rises marginally by  0.03%, triggered by gains in FBNH, Union Bank

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By Ifeyinwa Ezeokoli 

The domestic equities market traded quietly for most of the day, however late interests in UBN (+4.2 per cent) and FBNH (+1.8 per cent), triggered a 0.03bps expansion in the All-Share Index to 51,817.59.

Accordingly, the month-to-date loss and year-to-date returns settled at -2.2 per cent and 21.3 per cent, respectively.

The gain contributed to keeping the index well on track for its second week of gain in the month and the biggest half-year gain since half-year 2017.

Similarly, the overall market capitalisation value gained N8 billion to close at N27.935 trillion.

The market upturn was driven by price appreciation in large and medium-capitalised stocks amongst which are; Seplat Energy, Flour Mills of Nigeria, Union Bank of Nigeria, University Press and FBN Holdings (FBNH).

GTI Securities Limited stated that the “Domestic market closed flat as investors continue to trade cautiously while exploring other security portfolios.”

As measured by market breadth, market sentiment was positive with 20 stocks gainers relative to 18 losers.

University Press led the gainers’ chart in percentage terms by 9.79 per cent to close at N2.58 per share.

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McNichols followed with 9.73 per cent to close at N2.03, while Cornerstone Insurance went up by 9.09 per cent to close at 72k per share.

Consolidated Hallmark Insurance rose by 8.96 per cent to close at 73k, while John Holt Plc gained 8.70 per cent to close at 75k per share.

On the other hand, PZ Cussons Nigeria led the losers’ chart in percentage terms by 9.86 per cent to close at N9.60 per share.

Tripple Gee & Company followed with 8.42 per cent to close at 87k, while Prestige Assurance  lost 7.50 per cent to close at 37k per share.

Honeywell Flour Mills lost 7.07 per cent to close at N2.76, while R.T. Briscoe Nigeria shed 6.38 per cent to close at 44k per share.

However, the total volume traded declined by 46.4 per cent with an exchange of 223.11 million units valued at N3.87 billion exchanged in 4,213 deals.

Transactions in the shares of FBNH topped the activity chart with 36.63 million shares valued at N424.13 million.

Transcorp followed with 26.47 million shares worth N32.55 million, while United Bank for Africa traded 17.51 million shares valued at N130.46 million.

Guaranty Trust Holding Company (GTCO) traded 15.16 million shares valued at N310.14 million, while Zenith Bank transacted 14.07 million shares worth N305.11 million.

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