NSE Extends Gain as Index Advances 0.11%

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NSE Extends Gain as Index Advances 0.11%

Stocks on Nigeria’s premier Bourse again closed  on a positive note Wednesday as All Share Index inched up  by 0.11 percent to 40,341.05 points. driven by price appreciation by medium and large capitalised stocks, including Mobil, Flour Mills, BOC Gases, Seplat and Ardova.

The All-Share Index improved further by 45.10 points or 0.11 per cent to close at 40, 341.05 against 40, 295.95 achieved on Tuesday, while the market capitalisation rose by N24 billion or 0.11 per cent to close at N21.094 trillion from N21.069 trillion posted Tuesday.

The price movement chart also showed positive outlook with 32 gainers compared with 16 losers.

Academy Press, Sovereign Trust Insurance and Veritas Kapital Assurance dominated the gainers’ chart in percentage terms, gaining 10 per cent each to close at 33 kobo, 22 kobo and 22 kobo per share, respectively. BOC Gases followed with 9.92 per cent to close at N12.52, while Champion Breweries rose by 9.80 per cent to close at N1.12 per share.

Conversely, Chellarams led the losers’ chart in percentage terms losing 9.96 per cent to close at N2.26 per share. Livestock Feeds followed with a loss of 9.74 per cent to close at N1.76, while Consolidated Hallmark Insurance shed 8.82 per cent to close at 31 kobo per share. FTN Cocoa shed 5.88 per cent to close at 64 kobo, while Cutix lost five per cent to close at N2.09 per share.

However, the total volume of shares traded declined by 59.9 per cent to 468.15 million shares valued N6.96 billion exchanged in 5,697 deals as against 1.17 billion shares worth N7.97 billion transacted in 5,591 deals on Tuesday.

 

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