Equity market sustains growth, gains N417bn

The NGX All Share Index ASI rebounded at the close of Transactions yesterday, increasing by 1.73 per cent amid renewed bargain hunting activity.

The NGX ASI appreciated by 774.25 basis points to 45430.14 points from 44655.89 points traded the previous day.

Market capitalisation of listed equities also increased by N417 billion or 1.73 per cent to N24.476 trillion from N24.059 trillion reported on Tuesday.

Investors exchanged 252.938 million shares valued at N8.925 billion in 4218 deals against 235.233 million shares valued at N1.918 billion in 4151 deals.

An analysis of the investment showed that Airtel Africa led gainers table during the day, gaining 10 per cent to N1155.50, Cornerstone Insurance followed with a gain of 6.00 per cent to N0.53, Courtvellle Business Solutions gained 5.26 per cent to N0.40, Union Bank of Nigeria added 4.46 per cent to N5.85, Seplat Energy increased by 4.36 per cent to N720.10.

On the contrary FTNCocoa recorded the highest loss during the day, shedding 7.69 per cent to N0.36, Chi Plc trailed with a loss of 7.25 per cent to N0.64, Regal Insurance down by 6.67 per cent to N0.42, Japaul Gold fell by 4.76 per cent to N0.40, Jaiz Bank dipped by 4.55 per cent to N0.63.

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