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Equity market rebounds, gains N43bn



Bullish sentiment returned to the Nigerian stock market on Tuesday following investors’ interest in Zenith Bank, Union Bank and Flour Mills of Nigeria, which ensured the first gain of the week.

Specifically, the market capitalisation garnered N43 billion or 0.16 per cent to close at N26.811 trillion from N26.768 trillion on Tuesday.

Also, the All-Share Index advanced by 80.03 points or 0.16 per cent to close at 49,709.46 against 47,629.43 achieved on Tuesday.

Accordingly, the year-to-date returns increased to 16.71 per cent.

Overall, the market breadth closed negative as 10 stocks advanced against 22 that declined.

Cutix drove the gainers’ chart in percentage terms by 7.5 per cent to close at N2.15 per share.

Lasaco Assurance followed with a gain 5.88 per cent to close at N1.08, while Union Bank rose by 3.45 per cent to close at N6 per share.

Academy Press went up by 2.97 per cent to close at N2.08, while BUA Cement appreciated by 3.63 per cent to close at N54.60 per share.

On the other hand, UPDC Real Estate Investment Trust led the losers’ chart in percentage terms by 9.86 per cent to close at N3.20 per share.

PZ Cussons Nigeria followed with 9.27 per cent to close at N9.30 per share.

Courtville Business Solutions shed 8.93 per cent to close at 51k, while Japaul Gold and Ventures  lost 8.11 per cent each to close at 34k.

Also, WAPIC declined by 6.82 per cent to close at 41k per share.

Also, the total volume traded decreased by 25.02 per cent to 204.16 million units valued at N1.64 billion and exchanged in 3,643 deals.

Transactions in the shares of FBN Holdings topped the activity chart with 36.83 million shares valued at N396.18 million.

E-Tranzact International followed with 30 million shares worth N68.4 million, while United Bank for Africa (UBA) traded 20.52 million shares valued at N143.68 million.

Access Holdings traded 20.09 million shares valued at N171.5 million, while Eterna transacted 12.31 million shares worth N86.13 million. (NAN) 

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