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Equity market reverses loss, investors gain N364bn

The Nigerian Stock Exchange experienced a market reversal on Tuesday, with equity investors gaining N364 billion as the All-Share Index rose 0.57 percent to close at 104,549.74 points.

The market capitalisation now stands at N64.5 trillion.

This represented a 1.67 percent gain for the week and a 1.58 percent year-to-date increase.

Aradel Holdings led the pack, up 10% to N594.00 per share, followed by Chellarams (+9.98%), Stanbic IBTC Holdings (+9.92%), and University Press (+9.64%).



On the other hand, Caverton Offshore Support Group led the losers with a 10% drop, closing at N2.07 per share, while McNichols (-10%), Thomas Wyatt Nigeria (-9.8%), and Veritas Kapital Assurance (-9.79%) followed closely behind.

Despite these positive movements, Universal Insurance had the highest volume of 33.6 million shares, followed by Fidelity Bank (31.9 million) and FCMB Group (23.1 million), contributing to the day's notable trading activity.

Notably, the Oil & Gas Index outperformed, rising 3.34%, while the Banking Index rose 0.75 percent, indicating positive investor sentiment in the sector. The Consumer Goods Index also increased by 0.81 percent.


According to the PUNCH, the Nigerian Exchange closed in negative territory at the end of Tuesday's trading session, with the All-Share Index down 0.44 percent to 103,958.75 points.

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