NSE Sustains Growth for Third Straight Session

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) sustained its upward movement on Thursday for the third consecutive day with a rise of 0.46 percent.

At the close of trading activities on the NSE, the market capitalisation improved by N40.4 billion to finish at N8.79 trillion, while the All-Share index appreciated by 116.85 points to close at 25,418.08 points and the YTD return at -5.42 percent.

Business Post correspondent reports that a total of 18 stocks recorded price gain today compared with the 13 stocks that depreciated in price.

Nigerian Breweries topped the gainers’ chart after going up by N3.14k to close at N133.84k per share, while Forte Oil gained N1.12k to finish at N48.93k per share.

GTBank rose by 45k to end at N25.80k per share, Zenith Bank advanced by 40 to close at N14.55k per share and Flour Mill increase by 35k to finish at N17.85k per share.

On the other hand, 7up emerged the biggest loser to lead the losers’ log after dropping N8.29k to finish at N77.71k per share.

Total, which said it recorded a profit growth of 266 percent in 2016 in its financial statements, depreciated by N5.45k to end at N274.55k per share; while Ashaka Cement fell by 50k to finish at N9.50k per share.

Similarly, Dangote Cement crashed by 50k to close at N160 per share, while UACN weakened by 25k to finish at N14 per share.

Investors on Thursday exchanged at total of 281 million shares transacted in 2,468 deals worth N2.4 billion.

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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