NGX investors gain N250bn in 2 days amid bargain-hunting

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By Chinwendu Obienyi and Chukwuma UmeorahFollowing back-to-back gains in Nigeria’s equities market, investors’ wealth grew N253 billion in two consecutive trading sessions, Daily Sun investigations can reveal. The market had resumed trading week in negative territory but Wednesday and Thursday’s gains pushed it back to the green, fueling  positive investor’ sentiments on the floor of the Nigerian Exchange Limited (NGX).Specifically, the shares of Airtel Africa and Dangote Cement bounced stronger, resulting in the All Share Index (ASI) gaining 1.06 per cent to settle at 43,939.68 points, while market capitalisation which opened at N23.681 trillion, closed at N23.934 trillion by close of trading on Thursday, resulting in N253 billion.Consequently, the ASI’s year-to-date (YTD) return rose to 2.86 per cent. According to analysts at Coronation Research, the market remains on track for its first week of loss in the month, offsetting past week gains. Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 71.01 per cent. Meanwhile, a total of 405.00 million shares valued at N3.09 billion were exchanged in 3,188 deals.Sterling Bank led the activity chart, selling 171.15 million units valued at N231.07 million, Access Corporation followed with 78.76 million units worth N63.40 million while Transcorp sold 36.76 million valued at N38.61 million. Investors’ appetite remained positive as 13 stocks appreciated in value while 12 others depreciated.Topping the gainers table was the oil and gas sector with MRS Plc gaining an impressive 9.83 per cent to close at N12.85 per share. Followed by COURTVILLE which gained 8.70 per cent to close at N0.50 per share.Also in the green was UNITYBNK gaining 8.33 per cent to close at N0.52 per share. DANGOTE CEMENT Plc gained 7.77 per cent to close at N238.50 per share, likewise MBENEFIT which gained 3.70 per cent to close at N0.28 per share.On the other hand, the losers table was chaired by JULIUS BERGER NIG PLC which lost 9.81 per cent closing at N21.15 per share followed by CADBURY which lost 9.69 per cent to close at N10.25 per share. PRESTIGE lost 9.52 per cent to close at N0.38 per share.Following behind on the losers table was MULTIVERSE which lost 9.41 per cent to close at N3.85 per share followed by WAPIC which lost 5.71 per cent to close at N0.33 per share. 



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