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Nigerian equity market closes month bullish

Joseph Oyekanmi

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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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