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Investors Gain N155b as NSE Index Grows 1.03%

By Dipo Olowookere

Transactions on the floor of the Nigerian Stock Exchange ended positive on Thursday as a result of bargain hunting by investors.

By the time market activities closed for the day, the stock market appreciated by 1.03 percent with investors gaining N155.3 billion.

Business Post reports that the bellwether stocks in the banking and consumer goods space pulled their weights to buoy the performance of the market to a positive close.

At the close of business today, the year to date return closed at 11.40 percent, while the market breadth closed positive with 25 price gainers and 20 price losers.

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Nigerian Breweries led the gainers chart on Thursday, appreciating by N2.240k to close at N131.40k per share.

Dangote Cement grew by N1.50k to finish at N259.90k per share, while Stanbic IBTC rose by N1 to settle at N46 per share.

Lafarge also gained N1 to end at N52 per share, while Dangote Sugar advanced by N1 too to settle at N22 per share.

On the flip side, CAP topped the fallers’ table after losing N1.90k of its share value to close at N36.95k per share.

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NASCON fell by 75k to finish at N20 per share, while Union Bank depreciated by 30k to settle at N7.55k per share.

Furthermore, Caverton lost 25k to finish at N2.60k per share, while E-Tranzact also went down by 25k to close at N4.75k per share.

The volume and value of equities exchanged at the market today increased as a total of 615.2 million shares worth N6.3 billion were traded in 5,904 deals against the 520.7 million shares transacted yesterday in 5,694 deals valued at N4.7 billion.

Multiverse Resources led the activity chart on Thursday after selling 87 million shares valued at N31.4 million.

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Skye Bank followed with a total of 65.6 million units sold for N73.8 million, and Access Bank, which traded 59 million worth N766.4 million.

FCMB exchanged 56 million equities worth N158.3 million, while FBN Holdings traded 39.4 million shares valued at N499 million.

A look at the market indices showed that the All-Share Index (ASI) appreciated today by 432.6 points to close at 42,604.40 points, while the market capitalisation went up by N155.3 billion to settle at N15.289 trillion.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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