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NSE: Market cap up by 1.3% as investors pocket N26bn



Stock rise

Investors pocketed N26 billion as the negative sentiment faded at the Nigerian stock market on Wednesday.

The development followed the 1.3 percent rise in equity capitalization at the close of the day’s business.

The equity capitalization increased by N26 billion or 1.3 percent to close at N21.242 trillion compared to N21.216 trillion posted on Tuesday.

The All Share Index was up by 522.15 basis points to settle at 40,765.20 against the 40,243.05 recorded the previous day.

Investors traded 400.65 million shares valued at N3.47 billion in 5,145 deals on Wednesday.

This was in contrast to the 432.99 million shares worth N3.12 billion that exchanged hands in 4,377 deals on Tuesday.

First Bank topped the gainers’ chart after its share price rose by N0.70kobo to move from N9 to N9.70kobo per share.

UPL share price was up by 7.38 percent to end trading at N1.31kobo from N1.22kobo per share.

NNFM gained 6.49 percent to move from N7.70kobo to N8.20kobo per share at the end of trading.

Livestock share price appreciated by N0.12kobo to end trading with N2.35kobo from N2.23kobo per share.

Universal Insurance share price rose by 5 percent to move from N0.20kobo to N0.21kobo per share.

Pharmdeko topped the chart after shedding N0.17kobo from its share price to drop from N2.83kobo to N2.66kobo per share.

Associated Bus Transport’s share price declined from N0.35kobo to N0.33kobo per share after losing 5.71 percent in its share price.

Regal Insurance share price lost 4.88 percent to end trading at N0.39kobo from N0.41kobo per share.

The sovereign Insurance share price declined from N0.24kobo to N0.23kobo per share after losing 4.17 percent from its share price during trading.

Consolidated Hallmark Insurance completed the list as its share price fell by 4.84 percent to end trading at N0.59kobo from N0.62kobo per share.

First Bank was the most active stock as investors traded 108.74 million shares worth N1.07 billion.

Transcorp shares were traded at a volume of 39.67 million and valued at N38.38 million.

Eco Bank was next with 32.78 million shares traded at a cost of N189.90 million.

UBA reported 25.26 million shares worth N204.44 million, while Fidelity Bank recorded over 19.89 million traded shares at a value of N51.23 million.

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