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BUSINESS & ECONOMYCapital MarketCOVER

Stock Market Sustains Bullish Momentum with 0.23% Gain

Transactions on the floor of the Nigerian Stock Exchange, NSE, sustained a positive outlook on Friday, December 11, with key indicators appreciating by 0.23 per cent compared to the increase 0.74 per cent achieved on Thursday, December 10.

The NSE All Share Index gained 63.76 points to close at 27,269.71 points compared to 201.45 points gained previously to close at 27,205.95 points, while Market Capitalization added N21.9 billion to close at N9.4 trillion compared to N69.3 billion gained previously to close at N9.35 trillion.

Six of the sectoral Indices led by the NSE Insurance and NSE Oil/Gas Index closed positive. They both rose by 1.8 per cent from their previous closing figures to close at 141.50 points and 302.33 points respectively, while four other indices led by the NSE Lotus Islamic Index depreciated in value.

The lotus Islamic Index lost 0.6 per cent followed by the NSE Premium Index that lost 0.5 per cent, while the NSE Banking Index lost 0.2 per cent. The NSE ASeM Index remained flat.

Market breadth closed the day with 23 gainers against 16 losers. Transcorp Plc topped the gainers chart with an increase of 10.00 per cent or 14 kobo to close at N1.54 per share followed by Forte Oil Plc which added 5.08 per cent or N12.00 to close at N248 per share, while Axamansard Insurance Plc gained 4.98 per cent or 13 kobo to close at N2.74 per share.

Four Mills Plc appreciated by 4.97 per cent or 97 kobo to close at N20.47 per share while Africa Prudential Plc increased by 4.72 per cent or 11 kobo to close at N2.44 per share.

Conversely, Unilever Plc led the losers chart with a decline of 7.74 per cent or N3.52 to close at N41.98 per share trailed by Oando Plc which depreciated by 4.93 per cent or 28 kobo to close at N5.40 per share while Cutix Plc dropped 4.88 per cent or 8 kobo to close at N1.56 per share.

Wema Bank Plc lost 4.26 per cent or 4 kobo to close at 90 kobo per share while Nascon Allied Industries Plc fell 3.57 per cent or 25 kobo to close at N6.75 per share.

Altogether, investors on the NSE traded a total of 141.4 million shares valued at N3.1 billion in 2,843 deals compared to 179.1 million shares valued at N1.5 billion traded in 2,747 deals on Thursday.

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Comments (5)

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