The volume of shares traded on the Nigerian Stock Exchange (NSE) on Thursday declined by 17 per cent but the market indices appreciated.

The News Agency of Nigeria (NAN) reports that the turnover dropped by 38.8 million shares as investors exchanged 192.10 million shares worth N2.4 billion in 3,759 deals.

This was against the 230.90 million shares valued at N2.1 billion traded in 4,133 deals on Wednesday.

NAN reports that in spite of the decline in turnover, the All-Share Index appreciated by 110.31 points or 0.42 per cent to close at 26,546.20 from the 26,435.89 recorded on Wednesday.

Also, the market capitalisation, which opened at N8.446 trillion, appreciated by N2.4 billion or 0.42 per cent to close at N8.482 trillion. Nestle led the price gainers' chart with a gain of N3.85 to close at N660.05 per share.

Nigerian Breweries followed with N2.11 to close at N142.11 per share, while ConOil grew by 93k to close at N19.62 per share. Zenith Bank appreciated by 34k to close at N17.65, while GTBank rose by 24k to close at N19.98 per share.

On the other hand, NewGold recorded the highest price loss of N16 to close at N2, 591 per unit Mobil trailed with N5.75 to close at N109.25 per share, while Flour Mill dropped N1.50 to close at N64.50 per share.

MRS depreciated by N1.31 to close at N25.01, while Ashaka Cement lost 95k to close at N18.05 per share. (NAN)