Nigerian Bourse Finish Week Strong with N38b Gain

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) closed for the week on Friday, February 17, 2017 on a bullish note with investors gaining N38 billion, Business Post reports.

The stock market, which was very busy today, experienced a rebound from the previous day’s loss of N26 billion, giving investors the needed boost ahead of another trading sessions next week.

The volume of shares bought and sold today went up by over 200 percent.

While about 480 million shares were exchanged by investors on Friday in 2,713 deals worth N2 billion, a total of 144.4 million units were traded on Thursday in 2,303 deals valued at N1.5 billion.

Also, the market capital capitalisation recorded a rise today, improving by N38 billion to end at N8.7 trillion, while the all-share index grew by 109.62 points to finish at 25,164.91 points.

In addition to that, a total of 20 equities appreciated on the floor of the NSE on Friday compared with 10 stocks that suffered losses.

Business Post correspondent reports further that the top gainers at the market were Total Plc, Nigerian Breweries, Julius Berger, PZ and Presco, while the top five losers were Forte Oil, UAC Property, Custodian Insurance, Guinness Nigeria and First Bank Holdings.

While Total gained N2.90k to close at N273.1k per share, Nigerian Breweries added N1.98k to end at N115 per share.

Also, Julius Berger increased by N1.82k to finish at N38.39k per share, PZ gained N1.23k to close at N13.39k per share and Presco improved by N1.1k to end at N47.1k per share.

On the other hand, Forte Oil lost N3.11k to close at N59.21k per share, UAC Property declined by 10k to end at N1.94k per share, while Custodian Insurance fell by 8k to warp the day at N3.24k per share.

In the same vein, Guinness slumped by 5k to close at N60.95k per share and First Bank weakened by 4k to finish at N3.30k per share.

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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