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Stock market rises by 2.48% as week opens

Nigeria’s equities market kicked off a brand novel week on a favorable tell, driven by investors who sold shares of Dangote Cement Plc and MRS Plc. The duo led others that drove the market’s novel high because the week opened. The market went up on Monday by 2.48 percent as investors won N851 billion.

“This week, we question the bullish sentiments within the equities market to persist on the aid of the beauty of the market over the wretched rates within the fastened-earnings market.

“Also, we imagine the trot sentiments around the novel policies to continue to drive the rally available within the market. Lastly, we question investors to begin to take positions ahead of the upcoming 2d quarter (Q2) 2023 earnings season,” said United Capital research analysts in their July 10 tell to investors.

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Dangote Cement rose basically the most from N300.10 to N330.10, after including N30 or 10 percent, adopted by MRS which increased from N99.50 to N109.forty five, including N9.95 or 10 percent, and Neimeth which also moved from N2 to N2.20, including 20kobo or 10percent.

The market’s trot return year-to-date (YtD) stood bigger at 26.05 percent. The market’s All-Half Index (ASI) and equities capitalisation rose from the day prior to this’s 63,040.41 sides and N34.326 trillion respectively to 64,603.69 sides and N35.177 trillion.

In 14,584 affords, investors exchanged 1,839,046,861 shares valued at N22.033 billion. FBN Holdings, Standard Insurance protection, Sterling Bank, Transcorp and AIICO were actively traded shares.


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