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Nigeria’s equities market sustains momentum with N294bn profit for investors



Investors in the Nigerian equities market went home with N294 billion at the end of trading on Tuesday.

This followed an increase in the share price of Dangote Sugar, NASCON and MORISON, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization increased to N55.6 trillion from N55.3 trillion posted by the bourse on Monday.

Similarly, the All-Share Index (ASI) increased to 98,383.04 from 97,863.34 recorded the previous day.

The market breadth was positive as 28 stocks advanced, 13 declined, while 79 others remained unchanged in 7,990 deals.

Dangote Sugar and NASCON led other gainers with 10% and 9.88% growth in share price to close at N42.90 and N37.25 from their previous N39.00 and N33.90 per share respectively.

READ ALSO: NGX: Investors close week with N206bn loss

On the flip side, Sovereign Insurance (SOVRENINS), Universal Insurance (UNIVINSURE) and WAPCO led other price decliners as they shed 9.52%, 8.33% and 4.86% each to close at N0.38, N0.33 and N33.30 from the initial N0.42, N0.36 and N35.00% per share.

On the volume index, Abbey Mortgage (ABBEYBDS) traded 277 million shares valued at N682 million in eight deals followed by Access Corp which traded 81.935 million shares worth N1.39 billion in 766 deals.

FBNH traded 31.509 million shares valued at N683 million in 360 deals.

On the value index, SEPLAT recorded the highest value for the day trading stocks worth N1.6 billion in 51 deals followed by Access Corp which traded equities worth N1.3 billion in 766 deals.

FBNH traded stocks worth N683 million in 360 deals.

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