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Investor gain N3bn as market rises slightly by 0.01%

Stock investors gained about N3billion on Tuesday as market increased slightly by 0.01percent – thanks to UPDC Plc which led 12 gainers as against 21 losers led by Sovereign Trust Insurance Plc.

UPDC share price moved from day open low of N1.51 to N1.66, adding 15kobo or 9.93percent, while Sovereign Trust Insurance share price decreased from 27kobo to 25kobo, down 2kobo or 7.41percent.

The nation’s stock market’s year-to-date (YtD) negative returns stand lower at -3.35percent. The Nigerian Exchange Limited (NGX) All Share Index (ASI) and Market Capitalisation inched up from 38,915.62 points and N20.275trillion respectively to 38,920.5 points and N20.278trillion.

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In 3,376 deals, investors exchanged 228,479,010 units valued at N1.878billion. Wema Bank, Access Bank, UBA, Mutual Benefit and Fidelity Bank stocks were most traded on the Nigerian Bourse.

After a mixed session amid lukewarm investor sentiment, Lagos-based Vetiva Research analysts expect Nigeria’s equities market to trade in similar pattern on Wednesday “as investors await the outcome of the MPC meeting set to hold later this week where issues surrounding FX will be addressed.”

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