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Nigerian equity market

The Nigeria equity market extended its rally to the second trading session of the new year, gaining 0.38 per cent on Friday.

The All Share Index increased by 101 points, representing 0.38 per cent to close at 26,968.79 compared to 26,867.79 points on the first trading session of the year, while the Market Capitalization added 48.75 billion to close at ₦13.020 trillion against on ₦12.971 trillion on Thursday.

Niger Insurance led the 22 gainers’ pack, while Omatek was the worst loser, shedding 10 per cent to top 14 other decliners.

Investors traded 608.859 million units of shares in 6,071 deals, which was 130.54 per cent higher than 264.104 million units exchanged on Thursday; the total value of transactions was ₦3.761 billion on Friday, 28.10 per cent increase from ₦5.231 billion achieved the previous day.

Niger Insurance had the highest volume of traded stocks with 127.24 million units worth N27.993 million, while Zenith Bank led activities in terms of value, exchanging 63.54 million units worth N1.21 billion.

Meanwhile, banking sector rallied 2.67 per cent to lead other sectors which advanced on Friday, except Oil & gas and consumer goods sectors, which dipped -1.04 per cent and -0.95 per cent respectively.

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