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Stock Market Gains N48Bn, Reverses Week-Long Bearish Trend

Equities trading on the floor of Nigerian Stock Exchange (NSE) closed today on a positive note to halt a 10-day negative performance with the benchmark indices appreciating by 0.36 percent.

Specifically, the market’s All-Share Index (ASI)  rose by 130.81 absolute points to close at 36, 947.10 points as against 1.30 percent depreciation recorded in the last trading day on Friday.

Impliedly, market capitalization gained N48 billion to close at N13.383 trillion from N13.335 trillion it commenced trading for the day, with its Year-to-Date (YTD) returns currently standing at 3.39 percent.

The gainers’ table indicated that Nigerian Breweries led 21 gainers as against  21 losers led by Presco Plc

In value terms, Nigerian Breweries gained N3 or 2.91 percent to close at N106 per share compared to Guaranty Trust Bank with N1.75 or 4.53 percent to close at N40.4 per share while Mobil gained N1.5 or 0.91 percent to close at N166 per share.

Zenith Bank’s and Forte Oil’s stocks were up five kobo and 35 kobo to close at N26 and N35.5 respectively.

On the flip side of the stocks’ performances, Presco emerged highest price loser, dipping N3.75 or five percent to close at N71.25 per share. International Breweries trailed with N1.2 or 2.5 percent to close at N39 per share, PZ dipped N1.05 or 4.98 percent to close at N20.80 per share, while Cadbury shed N1 or 8.0 percent to close at N11.5 per share.

Flourmill’s share price crashed N1 or 3.2 percent to close at N30.1 per share.

Totally, investors exchanged 314.428 million shares valued at N7.33 billion traded in 6,016 deals.

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