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19 Stocks Revive NSE Indices by 0.15%

By Modupe Gbadeyanka

Transactions on the Nigerian Stock Exchange (NSE) on Wednesday recovered from the 0.88 percent loss it recorded yesterday.

Business Post correspondent reports that the recovery was inspired by 19 equities which appreciated in price against the 16 that depreciated at the close of activities.

Our correspondents further reports that Okomu Oil emerged the most gaining stock on the floor of the NSE after going up by N4.10k to close at N44.27k per share, while Presco rose by N4.9k to finish at N44.19k per share.

Other gainers today were Forte Oil, which leaped by N1.73k to end at N81.49k per share; GTBank, which advanced by 44k to close at N24 per share; and Cadbury, which progressed by 21k to finish at N9.49k per share.

Also, the leading market indicator, which is the all-share index, improved by 39.56 points or 0.15 percent to finish at 26,385.80 points, while the market capitalisation closed at N9.08 trillion after appreciating by N13.6 billion.

However, Guinness led the losers’ chart today after falling by N5.10k to close at N74.90k per share, while Julius Berger declined by N1.92k to end at N36.66k per share.

Similarly, Union Bank sank by 22k to finish at N5 per share, Cement Company of Northern Nigeria lost 17k to end at N4.23k per share and UACN Property dropped 15k to close at N3 per share at the wrap of trading activities.

In addition, the activity chart at the market on Wednesday indicated that the volume of shares traded dropped.

Investors were only able to sell 197.4 million shares at N1.05 billion executed in 3,410 deals compared with the 372.9 million shares exchanged yesterday by investors in 4,068 deals at N1.3 billion.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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