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Nigerian equity market sustains rally
Buying interest in AIRTELAF, FBNH, and UNILEVER helped to sustain the Nigerian Exchange’s uptrend on Monday as the All-Share index rose 0.1% to 41,814.74 points. The market capitalisation gained ₦26.9bn to ₦21.8tn while YTD returns improved to 3.8%.
Trading activity advanced as volume and value traded rose 32.2% and 29.4% respectively to 674.5m units and ₦7.6bn. The most traded stocks by volume were FBNH (350.5m units), ETI (45.6m units), and UNIVINSURE (33.9m units) while FBNH (₦4.3bn), GTCO (₦614.4m), and ETI (₦347.8m) led by value.
The Insurance and AFR-ICT indices gained 1.9% and 0.6% respectively due to buying interest in MANSARD (+6.5%), MBENEFIT (+7.1%), and AIRTELAF (+1.3%).
Trailing, the Oil & Gas and Consumer Goods indices rose 0.4% apiece as a result of price appreciation in OANDO (+1.0%), TOTAL (+1.3%), UNILEVER (+6.9%), and PZ (+9.3%). On the flip side, the Banking and Industrial Goods indices declined 0.2% and 0.1% respectively due to sell-offs in STANBIC (-4.9%), ZENITH (-0.4%), and WAPCO (-1.2%).
PZ (+9.3%), MBENEFIT (+7.1%), and UNILEVER (+6.9%) led gainers while ABBEYBDS (-9.5%), PRESTIGE (-8.5%), and REGALINS (-7.3%) led the laggards.
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