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NSE Market Indices up by 0.63% as Investors Trade 1.6b Shares Worth N11b

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) finished on a positive note on Tuesday amid bargain-hunting activities by investors.

The benchmark index was 0.63 percent up at the close of business after appreciating by 255.31 points to settle at 40,788.68 points, while the market capitalisation increased by N92.2 billion to end at N14.734 trillion.

There were huge buying activities observed in the banking space yesterday with FCMB emerging the most active after selling 952.6 million units valued at N2.4 billion.

UBA sold 382.5 million shares worth N4.2 billion, while Zenith Bank traded 65.2 million equities for N1.8 billion.

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Furthermore, Access Bank exchanged 51.9 million shares for N585 million, while Japaul Oil sold 20.3 million shares valued at N10.6 million.

These transactions and others pushed the volume of equities traded on Tuesday up by 732.40 percent, while the value spiked up by 248.88 percent.

At the end of the day, a total of 1.6 billion equities exchanged hands yesterday in 4,729 deals worth 10.9 billion compared with the 192.5 million shares sold the previous session in 3,917 deals valued at N3.1 billion.

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Business Post reports that the market breadth finished positive yesterday with 35 price risers and 18 price fallers with Nestle Nigeria emerging the highest price gainer after adding N12.50k to its share value to close at N1422.50k per share.

It was followed by Beta Glass, which appreciated by N3.55k to end at N75.50k per share, and GlaxoSmithKline, which improved by N2.65k to finish at N34 per share.

Julius Berger rose by N1.95k to settle at N25.95k per share, while Lafarge grew by N1.60k to end at N46.60k per share.

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Conversely, Okomu Oil was the day’s biggest price loser, going down by N3.15k to finish at N73.50k per share.

It was trailed by Presco, which fell by N1.35k to close at N68.65k per share, and CCNN, which went down by 65k to end at N19.50k per share.

Dangote Cement depreciated by 50k to settle at N249 per share, while UAC of Nigeria lost 30k to finish at N17.20k per share.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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