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Nigeria’s stock market returns to positive note despite massive sell-off In UBA, First Bank



The Nigerian stock market returned to a positive note on Wednesday as the equity capitalisation increased to N20.36 trillion at the end of trading.

This was a moderate increase over the N20.24 trillion recorded as market capitalisation on Tuesday.

The All Share Index increased by 0.63 percent to close at 38,931.25 on Wednesday.

The market closed with 38,686.85 ASI at the end of trading on Tuesday.

At least 368.21 million shares exchanged hands amongst investors on Wednesday. However, this was lower than the 545.91 million shares traded the previous day.

The number of completed deals dropped from 5,307 to 4,437 on Wednesday.

The value of traded shares also fell from N9.58 billion to N4.90 billion at the end of trading.

Morison topped the gainers’ chart as the company’s share price rose by 9.72 percent to end trading at N0.79kobo from N0.72kobo per share.

Champion Breweries share price rose by N18 to move from N2.02kobo to N2.20kobo.

Neimeth gained N0.17kobo and increased its share price from N1.92kobo to N12.09 at the end of trading.

Mutual Benefit share price rose by 7.69 percent to end trading at N0.42kobo from N0.39kobo.

NAHCO gained N0.14kobo in share price to move from N2.11kobo to N2.25kobo per share.

Consolidated Hallmark Insurance topped the losers’ chart after losing 10 percent to drop from N0.30kobo to N0.27kobo.

Eterna share price declined from N5.13kobo to N4.62kobo following a loss of N0.51kobo in its share price.

READ ALSO: Eterna, UBA among losers as Nigeria’s stock market bearish situation returns

Conoil share price plunged by N1.85kobo to end trading at N17.05 per share from N18.9kobo.

NNFM share price declined from N5.7kobo to N5.15kobo per share after losing N0.18kobo in share price during trading.

Livestock completed the list as its share price fell by N0.18kobo to end trading at N1.7kobo per share, having opened trade with N1.88kobo.

For top traded shares, UBA was the most active stock on Wednesday, as investors traded 74.83 million shares worth N523.35 million.

First Bank shares were traded at a volume of 65.35 million and valued at N467.82 million.

GTBank was next with 34.34 million shares traded at a cost of N1.06 billion.

Sovereign Insurance reported 34.21 million shares worth N9.84 million, while Japaul Gold recorded over 15.53 million traded shares at a value of N7.14 million.

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