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NGX: Indices rise by 1.09% amid renewed bullish transactions



The domestic stock market ended the week on a positive note amid gains in the stocks of Tier-one banks and MTN Nigeria.

Specifically the the market capitalisation gained N262 billion or 1.09 per cent to close at N24.233 trillion from N23.971 trillion on Thursday.

Similarly, the All-Share Index rose by 481.51 points or 1.09 per cent to close at 44,492.73 from 44,011.22 recorded on Thursday.

Consequently, the year-to-date (YTD) return rose to 4.16 per cent.

Market sentiment, as measured by market breadth, was negative, as 19 stocks lost relative to 11 gainers.

Nigerian Breweries recorded the highest price gain of 10 per cent to close at N41.25 per share.

Union Bank followed with a gain 9.24 per cent to close at N6.50, while ABC Transport appreciated by 8.7 per cent to close at 25k per share.

Dangote Cement ewent up by 7.77 per cent to close at N238.50 per share.

Also, Mansard rose by 7.27 per cent to close at N1.77, while United Capital rose by 6.64 to close at N12.05 per share.

On the other hand, Fidson led the losers’ chart by 9.34 per cent to close at N8.15 per share.

WAPIC Insurance followed with a decline of 8.33 per cent to close at 33kand Regency Alliance Insurance shed eight per cent to close at 23k per share.

Sovereign Trust Insurance lost 7.69 per cent to close at 24k, while Mutual Benefits Assurance shed 3.57 per cent to close at 27k, per share.

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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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