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Nigerian Equities Reverse Previous Day Loss, Gain N40b

By Dipo Olowookere

Transactions on the floor of the Nigerian Stock Exchange (NSE) closed for the week on Friday in the green territory.

The equity market ended 0.27 percent higher today to reverse the 0.48 percent decline recorded yesterday.

Business Post reports that the All-Share Index (ASI) increased today by 110.91 points to close at 41,218.72 points, while the market capitalisation went up by N40.2 billion to settle for the day at N14.931 trillion.

However, the volume of shares transacted by investors today depreciated by 11.48 percent, while the value declined by 11.25 percent.

At the close of business on Friday, a total of 283.6 million equities were traded in 4,187 deals worth N4.2 billion compared with the 320.4 million shares sold on Thursday in 4,482 deals valued at N4.8 billion.

It was observed that there was a renewed buying interest at the market and banking stocks dominated trading today with Access Bank emerging investors’ toast after exchanging 40.5 million units for N460 million.

It was followed by C&I leasing, which traded 31.5 million shares worth N52.9 million, and Sterling Bank, which sold 25.2 million equities valued at N41.8 million.

UBA traded 17.1 million shares worth N199.6 million, while Fidelity Bank exchanged 14.2 million equities for N34.8 million.

A look at the price movement chart today showed Nestle Nigeria topping the price gainers’ chart with N4.90k added to its share value to close at N1595 per share.

International Breweries grew by N4.30k to finish at N51.80k per share, while Beta Glass advanced by N3.95k to end at N83.20k per share.

Okomu Oil increased today by N2.45k to finish at N81 per share, while Nigerian Breweries went up by N1.80k to settle at N129 per share.

Conversely, Seplat emerged the heaviest price loser on Friday after going down by N15 to finish at N750 per share.

It was trailed by Mobil Oil Nigeria, which went down by N9.40k to end at N180.40k per share, and Presco, which fell by 50k to close at N70 per share.

Furthermore, Oando depreciated by 35k to settle at N8.35k per share, while Ecobank declined by 25k to finish at N20.55k per share.

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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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