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Stock Market Investors Gain N55bn In One Day

Ebuka Daniel

Nigerian stock investors have gained over N54.6bn, but the shares of Union Bank of Nigeria and Cadbury fell amid the nationwide #EndSARS memorial protest on Wednesday.

The protest was in commemoration of the famous demonstration against police brutality on October 20, 2020.

Although the market reacted positively to the protest which was held in Lagos, Abuja and Ibadan among other states, some stocks reacted adversely.

Market Capitalisation on the Nigerian Exchange Limited  rose from N21.471.8bn to N21.53bn, while All Share Index improved 0.26 per cent to 41,249.71, from 41,144.67.

But Prestige Assurance Company led the losers as share price fell 8.51 per cent from N0.47 to N0.43, Consolidated Hallmark Insurance followed closely as shares fell 8.33 per cent from N0.60 to N0.55, Cadbury Nigeria fell 5.88 per cent to N8 from N8.50, while Union Bank of Nigeria shares also dipped 5.66 per cent to N5 from N5.3.

The NGX Group topped the gainers chart with market price growing from N19.50 to N21.45 (10 per cent), Glaxo Smith share price rose 6.87 per cent from N6.55 to N7 and First Bank Holdings improved by 3.83 per cent to N12.2 from N11.75 recorded on Monday.

Amid the tension, volume and value traded rose by 47.5 per cent and 25.2 per cent respectively to 499.5 million units and N5.1bn.

First bank led trades by volume at 147.6 million units, E-Tranzact International  followed with 105.2 million units and ACCESS was 27.9 million units.

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