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Stocks market booms with N70bn gain

The equities market of the Nigerian Stock Exchange (NSE) has seen a rebound on the back of buying interest in Seplat (+10 per cent), WAPCO…

The equities market of the Nigerian Stock Exchange (NSE) has seen a rebound on the back of buying interest in Seplat (+10 per cent), WAPCO (+5.1%), and Guaranty (+1.5%).

Market capitalization also inched higher by ₦69.8 billion to settle at ₦21.2 trillion.

The benchmark index rose by 33 basis points (bps) to 40,573.31 points while the year to date return increased to 0.8%.

Activity level waned as volume and value traded declined 47.9% and 58.3% respectively to 206.2m units and ₦2.2bn.

Performance across sectors was positive as all indices under review gained except the AFR-ICT index which closed lower by 0.6% on account of sell-offs in MTNN (-1.1%).

Investor sentiment as measured by market breadth weakened to 2.3x from the 3.4x recorded previously as 30 stocks gained against 13 losers.

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