Nigerian equity has sustained rally for two consecutive weeks

Adebayo Obajemu

The Nigerian equities market on Wednesday closed on a positive note as the All Share Index appreciated by 0.06% to settle at 24,130.26 points from the previous close of 24,114.59 points on Tuesday.

Market Capitalisation appreciated by 0.06% to close at N12.588 trillion from the previous close of N12.580 trillion, thereby gaining N8 billion.

An aggregate of 208.21 million units of shares were traded in 3,648 deals, valued at N1.76 billion.

Market Breadth

The market breadth closed positive as 11 equities gained while 15 equities declined in their share prices.

Percentage Gainers

Sunu Assurance led other percentage gainers with 10% growth, closing at N0.22 from the previous close of N0.20.

Cutix Plc, Dangote Sugar and Mutual Benefit among other gainers also grew their share prices by 7.69%, 5.17% and 4.76% respectively

Percentage Losers

Julius Berger led other price decliners as it shed 9.88% of its share price to close at N15.50 from the previous close of N17.20

Nigerian Breweries, Linkage Assurance and Wapic Insurance among other price decliners also shed their share prices by 9.84%, 9.80% and 9.09% respectively.

Volume Drivers

Sterling Bank traded about 77.19 million units of its shares in 365 deals, valued at N95.71 million.
UBA traded 19.82 million units of its shares in 221 deals, valued at N119.99 million.
Zenith Bank traded 15.95 million units of shares.

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