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Equities: Market closes at N2.73 billion in value after snapping from Monday’s loss

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TUE 29 JUNE, 2021-theGBJournal- The domestic equities market snapped yesterday’s loss, following late interest in DANSUGAR (+4.2%) and some Tier-2 banks – UBN (+3.7%) and FCMB (+8.1%). Specifically, the All-Share Index advanced by 0.2% to 37,640.75 points. Accordingly, Month-to-Date and Year-to-Date losses moderated to -2.1% and -6.5%, respectively.

The total volume of trades increased by 40.1% to 229.01 million units, valued at NGN2.73 billion and exchanged in 3,678 deals. FCMB was the most traded stock by volume at 40.70 million units, while GTCO was the most traded stock by value at NGN401.15 million.

Analysing by sectors, the Insurance (+2.2%), Consumer Goods (+0.3%) and Banking (+0.3%) indices posted gains. On the other hand, the Oil & Gas (-0.9%) index declined, while the Industrial Goods index was flat.

As measured by market breadth, market sentiment was positive (2.1x), as 27 tickers gained relative to 13 losers. LINKASSURE (+10.0%) and IKEJAHOTEL (+10.0%) recorded the most significant gains of the day, while JAIZBANK (-5.2%) and VERITASKAP (-4.0%) topped the losers’ list.

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