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Nigerian equity market closes month bullish

Joseph Oyekanmi



NGX to deepen liquidity with market making programme relaunch

BUA CEMENT, GUARANTY, MTNN and 14 other stocks spurred the Nigerian equity market to a rally on the last trading day of the month.

The benchmark index gained 180.93 absolute points, representing 0.47% growth to close at 38,437.88 points, while market capitalisation increased by ₦94.3billion to settle at ₦20.0trillion and the year to date moderated -4.6%.

The most traded stocks by volume were VERITASKAP (29.8m units), FIDELITY (24.5m units), and ZENITH (20.9m units) while ZENITH (₦481.2m), SEPLAT (₦298.5m), and NESTLE (₦200.8m) led by value.

The Industrial Goods and AFR-ICT indices gained 1.1% and 0.5% respectively, following price appreciation in BUACEMENT (+2.8%) and MTNN (+1.0%).

Also, the Banking and Oil & Gas indices rose 0.3% and 1bps respectively, due to buying interest in GUARANTY (+1.4%), JAIZBANK (+1.7%), and MRS (+9.6%).

However, the Consumer Goods and Insurance indices lost 0.2% and 0.5% respectively on the back of selloffs in CHIPLC (-9.6%), DANGSUGAR (-0.3%) and MBENEFIT (-8.3%).

MRS (+9.6%), VITAFOAM (+8.9%) and CHAMS (+5.0%) led gainers while ROYALEX (-9.9), CHIPLC (-9.6%) and NEIMETH (-8.5%) led decliners.

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