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Tuesday, September 29, 2020
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Marginal Rise in Trading Volume as Market Cap Sees Slight Drop

Opinion

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The volume of trading on the Nigerian Stock Exchange, the nation’s main bourse fell into the negative territory on Friday with key market indices declining by 0.35 per cent.

The All-Share Index (ASI) dipped 85.04 points to close at 24,427.73 compared with 24,512.77 on Thursday.

The market capitalisation of listed equities lost N45 billion or 0.35 per cent to close at N12.742 trillion from N12.787 trillion reported on Thursday.

Seplat led the losers’ list dropping by N38.60 to close at N347.40 per share.

BUA Cement closed at N39 per share after losing N1, while Unilever dipped 60k to close at N12.25 per share.

United Bank for Africa lost 10k to close at N6, while FBN Holdings inched lower by 5k to close at N4.75 per share.

Julius Berger was the best performing stock, appreciating by N1.55 to close at N17.05 per share.

Stanbic IBTC gained N1 to close at N30, while Custodian Investment added 50k to close at N5.50 per share.

Dangote Sugar Refinery added 20k to close at N11.90, while NAHCO gained 17k to close at N2.20 per share.

However, the volume of shares traded increased marginally by 6.03 per cent as investors traded 174.19 million shares worth N2.38 billion in 3,723 transactions.

This was against a turnover of 164.29 million shares valued at N2.13 billion recorded in 2,986 deals on Thursday.

The banking stocks sector witnessed the most trades and 34.57 million Zenith Bank’s shares worth N537.55 million were traded.

Investors bought 28.13 million shares of FBN Holdings valued at N140.12 million, while 14.49 million United Bank for Africa’s worth N87.93 million were traded.

Traders bought 9.76 million Access Bank shares worth N60.35 million, while 9.72 million Nigerian Breweries’ shares valued at N301.31 million were sold.

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