Leadership (Abuja)

Nigeria: NSE Gains N34.16 Billion, Sustains Bullish Trend

The market capitalisation of the Nigerian Stock Exchange (NSE) yesterday firmed-up with N34.16 billion profits to close the third trading day of the week and the last day of the month at N12 trillion against the N11.97 posted on Tuesday.

In the same vein, the All-Share Index closed higher by 0.28 per cent or 107.88 points growth to close at 37,914.33 as against 37,806.45 achieved during the previous trading session.

A review of the performance of the market showed that trading had on Monday resumed on a bullish note as investors showed a significant interest in stocks that have released impressive results on the floor of the Exchange.

The equity turnover went up by 4.60 percent as a total of 330.17 million ordinary shares valued at N4.03 billion exchanged hands in 5,944 deals in contrast to 315.64 million ordinary shares worth N3.44 billion traded on Tuesday. The market breadth closed positive with 55 price movements, having 32 gainers and 23 losers.

Stanbic IBTC Bank Plc led the gainers' chart with N1.71 kobo per share or 9.98 per cent value addition. From its opening value of N17.13, it closed the day's trading at N18.84 per share. It was followed by Red Star Express Plc leading with N0.44 kobo per share. It closed transaction for the day at N4.89 kobo from the opening value of N4.45 kobo per share. Cutix Plc closed the day at N2.01 kobo per share, appreciating by 9.84 per cent.

Vono Products Plc led the losers' chart dropping by N0.12 kobo per share, representing 9.52 per cent value depreciation from the opening price of N1.26 kobo,it closed transaction lower at N1.14 kobo per share. It was followed by Courtville Business Solution Plc with N0.07 kobo or 9.33 per cent value erosion to close trading at N0.68 kobo from N0.75 kobo, while Royal Exchange Plc nosedived by N0.04 Kobo to close transaction at N0.51 kobo from the opening value of N0.55 kobo per share.

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