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NSE: Market closes bigger on improving investors’ confidence

The equity section of the Nigerian sustained last week gains Monday, buoyed by blue-chip gains particularly those recorded by Total, MTNN, Okomu Oil, BUA Cement and WAPCO as the central bank’s benchmark lending rate cut to 11.5% on Tuesday continues to aid demand recovery.

Across the sectorial indices, the Industrial Index advanced most, notching up 1.82% to close at 138.05 basis points.

The market breath closed on a positive note after 22 gainers emerged relative to 7 losers.

The All Share Index (ASI) swelled by 0.72%, closing at 26,507.84 basis points while market capitalisation climbed to N13.853 trillion.

Year to date, the index is down by 1.25% but it is on course for its first positive year-to-date return in many months this week if reverses that figure not later than Friday.

TOP 5 GAINERS

Total led advancers, appreciating by 10% to close at N88. Champion Breweries added up 9.88% to end today’s trade at N0.89. Oando went up by 9.85% to N2.23. AIICO advanced to N0.79, notching up 9.72%. Consolidated Hallmark Insurance completed the top 5, climbing by 8.82% to close at N0.37.

TOP 5 LOSERS

UACN Property was the worst performing stock, declining by 10% to close at N0.90. UPL shed 6.34% to close at N1.33. Caveerton fell to N1.73, losing 5.98%. May & Baker dipped to N2.90, recording 5.54% depreciation. Custodian closed at N0.53, going down by 3.64%.

TOP 5 TRADES

Trade volume totalled 336.833 million shares, 0.32% higher than the N335.749 million recorded at the Friday session. The value came to N4.029 billion at 4,602 deals.

Zenith was the most active stock today with 89.512 million units of its stocks worth N1.551 billion traded in 693 deals. 72.257 million units of Sterling Bank shares priced at N85.301 million exchanged hands in 62 transactions. UBA had 42.346 million shares valued at N258.982 million traded in 362 deals. FCMB traded 27.850 million shares estimated at N58.392 million in 72 transactions. GTB traded 14.657 million shares valued at N396.215 million in 307 deals.

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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