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Equities market records 2-day gain, adds N89.5bn

The Nigerian equities market sustained previous days gain on growing demand of stocks as NSE Indices increased by 0.93 per cent.

The NSE ASI closed at 28,205.62 basis points compared to 27,945.02 basis points recorded previously, while Market Capitalisation added 89.5 billion to close at N9.687 trillion compared to a gain of N108 billion recorded on Tuesday to close at N9.597 trillion.

Okomuoil Plc topped the day’s 24 gainers with an appreciation of 10.22 percent or N3.22 to close at N34.73 per share, MRS Plc added 10.21 percent or N3.26 to close at N35.19 per share, Axamansard Insurance Plc appreciated by 9.81 percent or 21 kobo to close N2.35 per share, Dangote Flour Plc improved by 9.09 percent or 40 kobo to close at N4.80 per share, and Unilever Plc gathered 5 percent or N1.65 to close at  N34.65 per share.

On the other hand, The day’s 23 losers were led by Skye Bank Plc which lost 5 percent or 4 kobo to close at  76 kobo per share, Red Star Express Plc followed with a loss of 4.94 percent or 22 kobo to close at N4.23 per share, United capital Plc dropped 4.76 percent or 12 kobo to close at N2.40 per share, Nigerian breweries lost 4.46 percent or N6.54 to close at N140 per share and UAC- Prop Plc depreciated by 3.64 percent or 14 kobo to close at N3.71 per share.

At the end of stock trading for the day, investors had exchanged a total of 488.9 million valued at N4.8 billion in 4,713 deals compared to 286.72 million shares worth N2.3 billion exchanged in 4,316 deals on Tuesday.

UBA Plc recorded the highest volume of trade, exchanging 127.3 million shares worth N584.8 million, Access Bank came second with the sale of 111.8 million shares valued at N626.5 million, while FBN Holdings followed with an exchange of 62.9 million shares valued at N223.2 million.