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Nigerian equity market extends gain to four consecutive sessions

Felix Oloyede

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NGX to deepen liquidity with market making programme relaunch

Bargain hunting activities in ACCESS, DANGSUGAR, and WAPCO propelled the Nigerian equity market to fourth consecutive trading session gain on Wednesday.

The All-Share Index rose by 0.22% to 38,501.31 points, while market capitalisation rose by ₦43.4billion to ₦20.1trillion as the market loss for the year improved to -4.4%.

Trading activity improved as volume and value traded rose 2.5% and 6.0% respectively to 296.1m units and ₦2.6bn. The most traded stocks by volume were FBNH (34.8m units), ACCESS (28.7m units), and ZENITH (27.7m units) while ZENITH (₦689.2m), GTCO (₦357.1m), and ACCESS (₦271.7m) led by value.

The Insurance and Banking indices led the gainers, up 0.6% and 0.5% respectively following buying interest in WAPIC (+5.4%), CUSTODIAN (+4.8%), ACCESS (+2.7%), and ZENITH (+0.8%).

Furthermore, gains in OANDO (+2.6%) drove the Oil & Gas index higher, up 0.4%. Similarly, the Industrial and Consumer Goods indices rose by 0.1% apiece due to price appreciation in WAPCO (+1.6%), DANGSUGAR (+2.0%), FLOURMILL (+0.2%).

Of the 22 stocks which gained, CUTIX (+10.0%), JOHNHOLT (+9.8%), and UAC-PROP (+9.7%) led while BOCGAS (-9.9%), BERGER (-9.6%) and COURTVILLE (-4.5%) led nine other decliners.

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