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Investors gain N181bn as equities sustain uptrend



Seizing the entry opportunity during the Easter holiday-shortened week, the equity market posted 1.98 per cent growth, equivalent to N500 billion profit for investors in the market.

Investors gain N181bn as equities sustain uptrend

Wednesday was another day for investors in the Nigerian equities market to smile all the way to the bank following another wave of profit recorded at the end of the midweek trading session.

As bullish sentiments persisted in the domestic equities market, market capitalisation gained N181 billion to close at N21.934 trillion.

Similarly, the All-Share Index that measures share price movement in the market advanced by 0.83 per cent to 41,930.73 basis points following investors’ interests in bellwethers.

The positive record of the day was attributable mostly to buying interests in the shares of MTNN (+2.4 per cent), AIRTELAFRI (+1.1 per cent) and WAPCO (+7.3 per cent) stocks. Consequently, Month-to-Date and Year-to-Date returns increased to +4.1 per cent.

The total volume traded increased by 16.2 per cent to 543.60 million units, valued at N7.32 billion, and exchanged in 6,770 deals.

TRANSCORP was the most traded stock by volume at 57.24 million units, while AIRTELAFRI was the most traded stock by value at N1.78 billion.

Performance across sectoral indices was broadly positive safe for the Oil & Gas index that dipped by -0.1 per cent to close the day.

The Insurance (+1.5 per cent ) index was the highest gainer, followed by the Industrial Goods (+0.5 per cent), Banking (+0.3 per cent) and Consumer Goods (+0.2 per cent) indices.

Market sentiment, as measured by market breadth, was positive (1.7x), as 34 tickers gained, relative to 20 losers.

CHIPLC (+10.0 per cent) and GUINEAINS (+10.0 per cent) topped the gainers’ list, while CORNERST (-9.7 per cent) and CAVERTON (-9.4 per cent) recorded the largest losses of the day

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