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Nigerian Bourse Rebounds As NSE Index Up 0.11%

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Nigerian Stock Exchange (NSE)

The Nigerian stocks market yesterday reversed its
bearish performance as gains in Nestle Nigeria, Okomu
Oil and 13 other stocks drove the All Share Index up by
0.11 per cent.
The All Share Index was up by 35.24 basis points,
representing an increase of 0.11 per cent, closing at
32,417.82 points. Similarly, the market capitalisation
gained N13 billion to close N11.835 trillion.
The upturn was impacted by gains recorded in medium
and large capitalised stocks, amongst which are; Nestle
Nigeria, Okomu Oil, Stanbic IBTC Holdings, Flourmills
Nigeria and Dangote Sugar.
Analysts at Afrinvest Limited stated that “in line with our
expectation, the market posted a bullish performance,
however, we expect a negative close for the week
following our observations of renewed sell pressures on
banking bellwethers.”
However, market breadth closed negative, recorded 15
gainers against 17 losers. Niger Insurance recorded the
highest price gain of 10 per cent, to close at 33 kobo per
share. Prestige Assurance followed with a gain of 8.33
per cent to close at 52 kobo, while Flourmills Nigeria rose
by 7.60 per cent to close at N21.95 per share.
Learn Africa appreciated by 5.45 per cent to close at
N1.16, while Okomu Oil rose 5.28 per cent to close at
N79.80 per share.
On the other hand, The Initiates led the losers’ chart by
9.68 per cent, to close at 56 kobo, per share. Continental
Reinsurance followed with a loss of 9.40 per cent to close
at N1.35, while McNichols declined by 9.23 per cent to
close at 59 kobo per share.
Unity Bank shed 9.09 per cent to close at 90 kobo, while
Forte Oil depreciated by 8.37 per cent to close at N20.25
per share.
The total volume traded appreciated by 9.7 per cent to
148.53 million shares, worth N2.86 billion, and traded in
2,857 deals. Transactions in the shares of Guaranty Trust
Bank topped the activity chart with 48.72 million shares
valued at N1.78 billion. Fidelity Bank followed with 13.88
million shares worth N26.38 million, while FCMB Groups
traded 11.14 million shares valued at N18.8 million.
Transnational Corporation of Nigeria Plc (Transcorp)
traded 9.37 million shares valued at N11.79 million, while
FBN Holdings transacted 7.16 million shares worth
N65.88 million.

The post Nigerian Bourse Rebounds As NSE Index Up 0.11% appeared first on Independent Newspapers Nigeria.

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Nigerian Bourse Rebounds As NSE Index Up 0.11%

share on:

Nigerian Stock Exchange (NSE)

The Nigerian stocks market yesterday reversed its
bearish performance as gains in Nestle Nigeria, Okomu
Oil and 13 other stocks drove the All Share Index up by
0.11 per cent.
The All Share Index was up by 35.24 basis points,
representing an increase of 0.11 per cent, closing at
32,417.82 points. Similarly, the market capitalisation
gained N13 billion to close N11.835 trillion.
The upturn was impacted by gains recorded in medium
and large capitalised stocks, amongst which are; Nestle
Nigeria, Okomu Oil, Stanbic IBTC Holdings, Flourmills
Nigeria and Dangote Sugar.
Analysts at Afrinvest Limited stated that “in line with our
expectation, the market posted a bullish performance,
however, we expect a negative close for the week
following our observations of renewed sell pressures on
banking bellwethers.”
However, market breadth closed negative, recorded 15
gainers against 17 losers. Niger Insurance recorded the
highest price gain of 10 per cent, to close at 33 kobo per
share. Prestige Assurance followed with a gain of 8.33
per cent to close at 52 kobo, while Flourmills Nigeria rose
by 7.60 per cent to close at N21.95 per share.
Learn Africa appreciated by 5.45 per cent to close at
N1.16, while Okomu Oil rose 5.28 per cent to close at
N79.80 per share.
On the other hand, The Initiates led the losers’ chart by
9.68 per cent, to close at 56 kobo, per share. Continental
Reinsurance followed with a loss of 9.40 per cent to close
at N1.35, while McNichols declined by 9.23 per cent to
close at 59 kobo per share.
Unity Bank shed 9.09 per cent to close at 90 kobo, while
Forte Oil depreciated by 8.37 per cent to close at N20.25
per share.
The total volume traded appreciated by 9.7 per cent to
148.53 million shares, worth N2.86 billion, and traded in
2,857 deals. Transactions in the shares of Guaranty Trust
Bank topped the activity chart with 48.72 million shares
valued at N1.78 billion. Fidelity Bank followed with 13.88
million shares worth N26.38 million, while FCMB Groups
traded 11.14 million shares valued at N18.8 million.
Transnational Corporation of Nigeria Plc (Transcorp)
traded 9.37 million shares valued at N11.79 million, while
FBN Holdings transacted 7.16 million shares worth
N65.88 million.

The post Nigerian Bourse Rebounds As NSE Index Up 0.11% appeared first on Independent Newspapers Nigeria.

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