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Bullish sentiment persists on NGX as investors gain ₦329bn

Market breadth closed negative with 26 declining stocks outnumbering 23 advancing ones.

Trading activities on NGX close flat.

Specifically, investors gained ₦329 billion or 0.58 per cent, as the market capitalisation closed at ₦56.961 trillion, as against ₦56.632 trillion recorded on Wednesday.

The All-Share Index also appreciated by 0.58 per cent or 601.72 points to settle at 104,100, compared to 103,498.28 posted in the previous session.

As a result, the Year-To-Date (YTD) return rose to 39.22 per cent.

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Continuous buy interests in the shares of BUA Cement, BUAFoods and Geregu kept the market in the positive terrain.

A total of 284.49 million shares valued at ₦6.91 billion were exchanged in 8,168 deals, as against 426.86 million shares valued at ₦12.11 billion exchanged in 8,654 deals.

However, analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 42.89 per cent.

Guaranty Trust Holding Company(GTCO) led the activity table in volume and value with the trade of 56.61 million shares worth ₦2.22 billion.

Transcorp followed with 33.17 million shares valued at ₦418.31 million, while United Bank of Africa(UBA) traded 18.38 million shares worth ₦442.96 million.

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Also, Mutual Benefits Assurance sold 16.76 shares valued at ₦11.48 million and AXA Mansard traded 12.51 million shares worth ₦75.57 million.

On the gainers’ table, University Press Ltd.(UPL) led in percentage terms of 9.96 per cent to close at ₦2.87, followed by Juli Plc by 9.84 per cent to close at ₦1.34 per share.

Mutual Benefits gained 9.38 per cent to close at 70k, Daar Communications rose by 8.82 per cent to close at 74k, while Honeywell Flour garnered 7.50 per cent to close at ₦4.30 per share.

Conversely, Unilever Nigeria Plc led the losers’ table by 9.80 per cent to close at ₦16.10, Julius Berger lost 9.64 per cent to close at ₦50.60, while Morison Industries Plc shed 9.60 per cent to close at ₦2.23 per share.

May & Baker Nigeria Plc depreciated by 6.52 per cent to close at ₦6.45 and National Salt Company of Nigeria (NASCON) dropped 5.37 per cent to close at ₦59.04 per share.

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Market breadth closed negative with 26 declining stocks outnumbering 23 advancing ones.

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