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Gains in blue-chip stocks boost equities market by 0.02%



Trading on the Nigerian Exchange Ltd., (NGX) on Wednesday closed positive, following price gains in blue-chip stocks, especially Guaranty Trust Holding Company (GTCO), Sterling Bank, Fidelity Bank and Conoil.

At the close of trading, the All Share Index (ASI) increased by 0.02 per cent to 47,163.94 points from 47,156.56 points recorded on Tuesday.

Similarly, the market capitalisation grew by N4 billion to close at N25.418 trillion from N25.414 trillion recorded the previous day.

The market breadth closed at par; 16 stocks advanced while 16 stocks declined.

CAP led the gainers’ chart, recording the highest price gain of 10 per cent to close at N19.80, per share, while Learn Africa followed with a gain of 9.6 per cent to close at N2.17 per share.

Champion rose by 9.19 per cent to close at N2.04, per share while Sterling Bank gained 3.95 per cent to close at N1.58, per share.

Also, Conoil appreciated by 2.92 per cent to close at N24.70, per share. Fidelity Bank gained 2.78 per cent to close at 37k per share.

On the other hand, First City Monument Bank (FCMB) led the losers’ chart with 8.72 per cent to close at N3.35, per share.

Mutual Benefits Assurance followed with a decline of 7.41 per cent to close at 0.25k per share, while ABC Transport lost 6.25 per cent to close at 30k per share.

Pharmedeko declined by 5.98 per cent to close at N1.73 per share, while FTN Cocoa shed 5.88 per cent to close at 0.32k per share. Niger Insurance shed 4.76 per cent to close at 20k.

The total volume traded stood at 267.480 million units, valued N3.215 billion, exchanged in 4,099 deals.

Transactions in the shares of Fidelity Bank topped the activity chart with 68.817 million shares valued N219.243 million.

Access Bank followed with 38.641 million shares worth N384.118 million, while United Bank for Africa(UBA) traded 30.913 million shares valued N236.083 million.

Also, GTCO traded 23.953 million shares valued N621.972 million, while Zenith Bank traded 12 607 million shares worth N339.011 million.


Olawunmi Ashafa

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