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Nigeria: NSE – Telecom Gains Help Sustain Nigerian Stocks’ Bull Run

The market posted a positive breadth as 35 gainers emerged against 21 losers.

Nigerian stocks were up by 0.83 per cent on Wednesday as the All Share Index lifted by 345.79 index points to 41,930.73, helped by investors’ increased interest in telcos MTN and Airtel, alongside WAPCO, Julius Berger and Dangote Sugar.

The market posted a positive breadth as 35 gainers emerged against 21 losers.

All the sector indices closed high save for the Insurance Index which was down by 0.23 per cent at 128.30 basis points.

Market capitalisation jumped to N21.934 trillion, expanding by N180.884 billion.

Year to date, the index is up by 4.12%.

TOP 5 GAINERS

Consolidated Hallmark led gainers, appreciating by 10% to close at N0.44. Guinea Insurance added up 10% to end today’s trade at N0.22. Fidson advanced by 9.90% to N5.55. Champion rose to N2.58, notching up 9.79% in the process. Lasaco completed the top 5, climbing up by 9.76% to N0.40.

TOP 5 LOSERS

SAHCO topped the losers’ chart today, declining by 10% to close at N2.88. Cornerstone Insurance shed 9.72% to end today’s trade at N0.65. Caverton fell to N1.83, losing 9.41%. Universal Insurance slumped to N0.21, recording 8.70% depreciation. FTN Cocoa closed at N0.55, going down by 8.33%.

TOP 5 TRADES

543.597 million shares valued at N7.322 billion were traded today in 6,770 deals.

Transcorp was the most active stock with 57.238 million of its stocks worth N61.017 million traded in 195 deals. 52.041 million units of Japaul Gold shares priced at N40.275 million exchanged hands in 221 transactions. Zenith had 47.162 million shares valued at N1.243 billion traded in 511 deals. FBN Holdings traded 38.076 million shares estimated at N284.687 million in 302 transactions. UBA traded 32.535 million shares valued at N291.729 million in 315 deals.