Equities market sustains previous day gain, adds 0.77%

Equities trading on the Nigerian Stock Exchange (NSE) sustains previous day positive stance as it closed market with 0.77 per cent appreciation, on Thursday, as market capitalisation increased to N12.441 trillion from N12.365 recorded on Wednesday.

Similarly, the All-Share Index (ASI) settled at 23,892.92 basis points. Accordingly, Month-to-Date gain increased to 3.8 per cent, as Year-to-Date losses moderated to -11.0 per cent.

Market breadth closed positive as 18 tickers gained, relative to 14 losers.

Fidson and NPF Microfinance Bank were the top gainers of the day, having appreciated by 9.6 per cent and 9.5 per cent respectively, while Custodian and Unity Bank CUSTODIAN (-9.5%) and UNITYBNK (-8.3%) recorded the largest losses as they depreciated in stock value by 9.5 per cent and 8.3 per cent respectively.

The sectoral performance was broadly positive following gains in the Consumer Goods, Banking and Industrial Goods Indices, having appreciated by two per cent, 5.3 per cent and 0.6 per cent respectively; and loss in the Insurance Index by 3.7 per cent, while the Oil and Gas index was flat.

The total volume of trades increased by 14.8 per cent to 182.74 million units, valued at N2.33 billion and exchanged in 4,542 deals. Zenith Bank was the most traded stock by volume at 27.28 million units while Guaranty Trust Bank was the most traded stock by value at N540.71 million.

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