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NGX All-Share Index maintains bullish trend, up 1.42%

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The domestic equities extended its gaining streak on the Nigerian Exchange Ltd.,(NGX) with All- Share Index (ASI) appreciating by 1.42 per cent on Thursday amid renewed sell pressure.

The upward movement in the benchmark index was due to gains in some bluechip stocks, amongst which were Cadbury, Guiness, Nigerian Breweries, MTN Nigeria and International Breweries.

Specifically, All-Share Index gained 709.54 basis points or 1.42 per cent to close at 50,835.95 points compared with 50,126.41 points on Wednesday.

The year-to-date gain of the index increased to 19 per cent.

Also, the market capitalisation gained N382.52 billion to close at N27.406 trillion as against N27.023 trillion recorded at the previous trading.

Market breadth closed positive as 32 stocks were on the gainers’ chart while 22 others were on the laggard’s table.

McNichols Plc and Guiness drove the gainers’ chart in percentage terms by 10 per cent each to close at 77k and N110 per share.

Nigerian Breweries followed with a 9.95 per cent gain to close at N69.05, while FISON rose by 9.93 per cent to close at N9.85 per share.

Conoil also went up by 9.92 per cent to close at N28.80 per share.

On the other hand, Transcorp Hotels Plc led the losers’ chart in percentage terms by 9.09 per cent to close at N4.50 per share.

Multiverse Mining and Exploration Plc followed with 8.7 per cent to close at 21k per share.

Mutual Benefits Assurance and FTN Cocoa shed 7.69 per cent each to close at 24k and 36k respectively.

Oando lost 7.41 per cent to close at N5.25 per share.

Also, the total volume traded decreased by 30.88 per cent from 669.30 million units to 462.60 million units at N8.31 billion and exchanged in 6,801 deals.

Transactions in the shares of First City Monument Bank (FCMB) topped the activity chart with 138.52 million shares valued N485.32 million.

Zenith Bank followed with 29.35 million shares worth N705.04 million, while Transcorp traded 26.39 million shares valued N30.64 million.

Also, United Bank for Africa (UBA) sold 20.68 million shares at N166.38 and Guaranty Trust Holding Company (GTco) transacted 20.31 million shares valued N478.77 million.

Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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