New Telegraph

NGX: Investors gain N58.35bn as equities rebound

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The bulls resurfaced on Wednesday after a five straight session of losses on the floor of Nigerian Exchange Limited (NGX). The market All Share Index rose by 0.22 per cent to settle at 48,675.33 points. The positive sentiment in index heavyweights, BUACEMENT (+1.27 per cent) and NESTLE (+0.23 per cent), contributed to keep the market in the green despite losses in other Tier-1 banks, ACCESSCORP (-1.20 per cent), UBA (-0.71 per cent) and GTCO (-0.50 per cent). Consequently, the year-todate (YTD) return rose to 13.95 per cent, with market capitalisation gaining N58.35 billion to close at N26.25 trillion.

Market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.98 per cent. A total of 167.57 million shares valued at N3.37 billion were exchanged in 3,751 deals. ACCESSCORP (-1.20 per cent) led the volume chart with 27.90 million units traded, UBA (-0.71 per cent) followed with 22.94 million shares while MTNN (+0.00 per cent) led the value chart in deals worth N725.24 million. Market breadth closed positive with advancing issues outnumbering declining ones. NEM (+10.00 per cent) topped thirteen (13) others on the leader’s table, while FIDSON (-9.80 per cent) led ten (10) others on the laggard’s log.

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