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Nigerian equity market sustains positive momentum

Felix Oloyede



Nigerian Exchange gains 0.43%

The Nigerian equity market rallied three out of the four trading sessions this week after appreciating 0.17% on Friday, driven by the gains recorded by the banking sector and MTNN.

The All-Share Index (ASI) grew by 66.56 absolute points to close at 38,866.39 points, while the Market Capitalization value gained N34.83 billion to close at N20.34 trillion as the YTD return moderated to -3.49%.

However, the ASI and Market Capitalization dipped by 0.13% to close the week at 38,866.39 and N20.335 trillion respectively, when compared with that of the previous week.

The volume of stocks traded in 3,507 deals was up 0.46% to 160.65 million, while the value of the total transaction rose 36.78% to N1.28 billion.

Honeywell Flours led 13 other advancers to emerge as the top gainer (by percentage points), appreciating +8.85%, while GUINNESS depreciated -10.00% to emerged as the top gainer (by percentage points).

Mutual Assurance (22.91 million), Access Bank (18.75 million) and JAPAUL GOLD (14.930 million) were the most active equities in volume term, while GTBank (N266.89 million), MTNN (N205.37 million) and Zenith Bank (N160.62 million) drove the active chart value-wise.

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