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Stock Market Extends Crash Thursday by 1.07%

By Modupe Gbadeyanka

The Nigerian stock market suffered a further declined on Thursday at the end of trading activities, making it the third poor sessions in a row in 2017.

The Nigerian Stock Exchange (NSE), which opened the first trading day of the year 2017 on Tuesday with 0.96 percent fall, recorded a slump of 0.46 percent yesterday and a loss of 1.07 percent today.

A total of 17 stocks recorded price gain on Thursday against 16 equities that depreciated at the market and 14 stocks that retained their initial prices.

While the market capitalisation flopped by N97.4 billion to close at N9.02 trillion, the all-share index lost 282.95 points to end at 26,212.09 points.

Dangote Cement led the losers’ chart today after losing N6.97k to finish at N167.2k per share, while Guinness sank by N4.15k to end at N78.90k per share.

Forte Oil declined by N2.85k to close at N80.75k per share, Stanbic IBTC depreciated by 63k to close at N15 per share and NAHCO dropped by 30k to end at N2.86k per share.

On the other hand, Beta Glass went up by N1 to lead the top advancing stocks closing at N30 per share, CAP Plc also chalked up N1 to end at N33 per share and GTBank appreciated by 57k to end at N23.47k per share.

In the same vein, Access Bank added 29k to finish at N6.14k per share and Oando gained 24k to close at N4.54k per share.

Today, investors exchanged a total of 138 million shares on the floor of the stock exchange in 2,488 deals valued at N899 million.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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