Stock Market Closes Higher as Index Rises 1.05%

May 17, 2017

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) on Wednesday finish bullish, appreciating by 1.05 percent as the buy pressure continues.

Business Post correspondent reports that the All-Share Index (ASI) improved by 290.77 points to close at 27,900.44 points, while the market capitalisation increased by N100.5 billion to end at N9.645 trillion.

Our correspondent further reports that the YTD Return finished at 3.82 percent, while the market breadth closed positive with 24 stocks advancing compared with the 13 stocks that declined.

Investors, at the end of trading activities at the stock market today, staked N3.5 billion on a total of 371.5 million shares executed in 3,910 deals.

On the price movement chart, Nestle rose by N24.94k to end at N825.5k per share, while Nigerian Breweries added N3 to finish at N148 per share.

GTBank advanced by N1.20k to close at N30.70k per share, Oando grew by 77k to end at N8.55k per share and GlaxoSmithKline appreciated by 73k to finish at N15.43k per share.

On the flipside, Stanbic IBTC depreciated by 50k to end at N26 per share and Union Bank of Nigeria declined by 15k to close at N5 per share.

Zenith Bank slumped by 11k to finish at N17.10k per share, International Breweries weakened by 10k to close at N20.90k per share, while UBA also depleted by 10k to end at N6.50k per share.

Modupe Gbadeyanka

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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