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Nigerian Exchange sustains upturn

Felix Oloyede



MNigerian Exchange sustains upturnTNN, Bua Cement, WAPCO halt Nigeria equity market’s gaining streak

Buying interest in MTNN, FCMB and WAPCO buoyed the Nigerian equity market performance to a second consecutive gain on Thursday.  

The All-Share index rose 0.2% to 38,548.24 points, market capitalisation increased by ₦34.3bn to settle at ₦20.1trillion and the year to date loss improved to -4.3%.

Trading activity strengthened as volume and value traded rose by 59.1% and 41.2% to 249.7m units and ₦1.9 billion respectively.

The most traded stocks by volume were SOVRENINS (35.5m units), FCMB (22.7m units), and MANSARD (16.9m units) while STANBIC (₦182.9m), WAPCO (₦100.3m), and MTNN (₦99.2m) led by value.

The AFR-ICT and Consumer Goods indices led gainers, up 0.8% and 0.2% respectively, due to buying interest in MTNN (+1.5%) and FLOURMILL (+1.1%).

Similarly, the Insurance, Oil & Gas and Industrial Goods indices rose 6bps, 5bps and 1bps respectively, following price appreciation in REGALINS (+3.8%), OANDO (+0.7%) and WAPCO (+0.5%). Conversely, the Banking index fell 0.5% on the back of sell-offs in FBNH (-0.7%)  and UBA (-0.7%).

UPL (+10.0%), BERGER (+9.8%) and JOHNHOLT (+9.4%) led gainers while CWG (-9.6%), UBN (-6.7%) and SOVRENINS (-6.7%) led decliners.


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