Equities market gains N13bn  to maintain positive trend

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In the seventh consecutive session of gain, the stock market of the Nigerian Exchange Limited (NGX) sustained bullish trend as capitalisation appreciated by N13 billion at the end of trading activities on Thursday.

The All Share Index (ASI) rose by 24.00 points, representing an increase of 0.05 per cent to close at 49,499.43 points, while the overall market capitalisation value gained N13 billion to close at N26.961 trillion.

Market sentiment, as measured by market breadth was positive as 17 stocks gained, relative to 14 decliners. 

Julius Berger Nigeria recorded the highest price gain of 9.91 per cent to close at N23.30 per share. Champion Breweries followed with a gain of 9.30 per cent to close at N4.70, while Ardova Plc rose by 9.20 per cent to close at N19.00 per share.

Thomas Wyatt Nigeria went up by 8.82 per cent to close at 74 kobo, while Japaul Gold & Ventures appreciated by 7.69 per cent to close at 28 kobo per share.

On the other hand, UPDC Real Estate Investment Trust led the losers’ chart by 6.45 per cent to close at N2.90 per share. Lasaco Assurance followed with a decline of 5.56 per cent to close at 85 kobo, while University Press depreciated by 5.26 per cent  to close at N1.80 per share.

Wapic Insurance declined by 5.00 per cent to close at 38 kobo, while Jaiz Bank depreciated by 2.35 per cent to close at 83 kobo per share.

However, the total volume of trades decreased by 67.76 per cent to 132.571 million units, valued at N3.144 billion, and exchanged in 2,999 deals.

Transactions in the shares of FBNH topped the activity chart with 29.101 million shares valued at N331.220 million. Sterling Bank followed with 18.387 million shares worth N25.019 million, while Nigerian Breweries traded 10.503 million shares valued at N394.985 million.

Guaranty Trust Holding Company (GTCO) traded 6.642 million shares valued at N147.040 million, while Fidelity Bank transacted 5.425 million shares worth N24.144 million.

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