Investors Gain N7.9b as 21 Stocks Rise

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By Modupe Gbadeyanka

Stock market in Nigeria reversed Tuesday’s loss to finish bullish today with the major indices appreciating at the close of trading, Business Post reports.

The all-share index improved by 22.91 points or 0.09 percent to end at 26,240.45  points, while the market capitalisation advanced by N7.9 billion to close at N9.03 trillion.

Twenty-one equities appreciated at the market on Wednesday compared with the 16 stocks that recorded losses.

Also, the volume of shares exchanged on the floor of the NSE finished slightly higher than what was achieved yesterday.

While investors traded 190 million shares today at N2.4 billion in 2,896 deals, a total of 187.7 million units were exchanged yesterday in 3,055 deals at N10.4 billion.

An analysis of the price movement chart showed that Mobil, Forte Oil, Nestle, Lafarge and NASCON were the top five gainers at the stock market on Wednesday, while the top five losers were Guinness, UAC-Property, NAHCO, Africa Prudential Registrars Plc and Honeywell Flourmill.

Mobil gained N3 to close at N279 per share, Forte Oil rose by N1.20k to finish at N65.20k per share and Nestle increased by N1 to end at N750 per share.

Likewise, Lafarge improved by 40k to close at N40.40k per share, while NASCON advanced by 37k to finish at N7.84k per share.

However, Guinness depreciated by 95k to end at N70.5k per share, while UAC-Prop declined by 14k to close at N2.88k per share.

In the same vein, NAHCO fell by 12k to finish at N2.60k per share, Africa Prudential Registrars Plc sank by 7k to close at N3.12k per share and Honeywell Flourmill lost 6k to end at N1.15k per share.

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