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Equity Market Gains N417b as Investors Confidence Rise

By Modupe Gbadeyanka

The stock market closed positive on Monday on renewed sentiment of investors, progressing by 3.85 percent and sustaining the positive momentum into the 9th consecutive session, Business Post reports.

At the end of trading activities on the floor of the Nigerian Stock Exchange (NSE), investors gained a total of N417 billion.

Today, the market capitalisation crossed the N31 trillion mark, while the All-Share Index (ASI) also moved above the 32,000 mark.

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While the market capitalisation improved by N417 billion to close at N11.263 trillion, the ASI advanced by 1206.75 points to finish at 32,578.38 points.

The market breadth settled in the green territory with 44 stocks appreciating in the price against 12 stocks, which recorded drop in value. Also, the year-to-date return closed at 21.22 percent.

Nestle led the gainers table with a growth of N36.24k to settle at N955 per share, while Mobil rose by N29.72k to finish at N319.72k per share.

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In addition, Dangote Cement advanced by N17.7k to end at N210 per share, Total moved up by N5 to close at N270 per share and ConOil progressed by N3.82k to finish at N41.17k per share.

Conversely, Nigerian Breweries dropped N4.55k to settle at N155.50k per share, while Union DICON Salt Plc depreciated by 70k to end at N13.45k per share.

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Furthermore, PZ Cussons declined by 27k to close at N19 per share, Cutix Plc slumped by 9k to finish at N2.2k per share and International Breweries stumbled by 6k to end at N24.13k per share.

Business Post further reports that investors transacted a total of 640 million shares today executed in 7,024 deals valued at N7.7 billion.

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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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