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Market Digest Nigeria

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NSE Index Up 1.2% on Unwavering Bullish Momentum

Trading activities at the Nigerian Stock Exchange, NSE, on Tuesday, July 25, reinforced bullish trend as stocks stayed pinned in the North.

To this end, the All Share Index (ASI) recorded a growth of 1.2 percent to cross the 35,000 benchmark. The ASI specifically increased by 412.95 points to close at 35,065.47 points against 34,652.52 achieved on Monday, extending rally to the 14th consecutive session. Similarly, the market capitalization also gained N142 billion and closed the day at N12.085 trillion. Activity chart showed UBA emerging the day’s top gainer with a surge of 10.16 percent to close at N10.41 per share, May&Baker rose 10 percent to close at 3.19 per share and Forte Oil grew by 9.39 percent to close at N62.90 per share. The day ended with Unity Bank topping the losers chart. The stock dropped 8.96 percent to close at 61 kobo per share while Morison Industries and First Aluminum followed with a loss of 8.92 per cent and 5 percent to close at N1.43 and 57 kobo respectively.

UBA topped trading activity with the sale of 118.5 million shares worth N1.2 billion. Transcorp followed with the sale of 38.3 million shares worth N63.2 million while Fidelity Bank traded 25.6 million shares for N33 million. At the end of trading, volume traded slumped to 288.6 million in 2,578 deals from 293.8 million exchanged in 3,712 deals on Monday. Total value traded also dipped to N2.5 billion in contrast to N3.9 traded in previous session.

 

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