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Nigerian stock market inches higher by N36bn



NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Activities on the nation’s bourse sustained positive mood on Friday with the market capitalisation increasing further by N36 billion.

Specifically, the market capitalisation which opened at N24.274 trillion inched higher by N36 billion or 0.15 per cent to close at N24.760 trillion.

Also, the All-Share Index appreciated by 66.83 points or 0.15 per cent to 45,957.35 from 45,890.52 traded on Thursday.

An analysis of the price movement table shows that 20 stocks posted price growth in contrast with 13 laggards.

Northern Nigeria Flour Mills led the gainers’ table in percentage terms, gaining 9.72 per cent to close at N7.90 per share.

Courtvellle Business Solutions followed with 9.52 per cent to close at 46k, while Vitafoam added 5.46 per cent to close at N22.20 per share.

FTNCocoa added 5.41 per cent to close at 39k, while Seplat Energy increased by 4.86 per cent to close at N755.10 per share.

On the other hand, Regence Insurance topped the losers’ chart for the day, shedding 4.55 per cent to close at 42k per share.

Sovereign Trust Insurance trailed with 4.0 per cent to close at 24k, while Sunu Assurances fell by 3.13 per cent to close at 31k per share.

Honey Well Flour Mills was down by 3.03 per cent to close at N3.20, while Custodian Investment shed 2.76 per cent to close at N7.05 per share.

A breakdown of the activity chart shows that Transcorp drove the activity chart with 35.68 million shares valued at N38.05 million.

Courtvellle Business Solutions followed with 31.79 million shares valued at N14.37 million, while Sovereign Trust Insurance traded 26.36 million shares worth N6.07 million.

Access Bank exchanged 22.20 million shares valued at N216.85 million, while FBN Holdings accounted for 18.37 million shares worth N220.18 million.

In all, the volume of shares traded closed lower with 281.59 million shares valued at N2.41 billion achieved in 3,739 deals.

This was in contrast with 873.49 million shares worth N31.54 billion shares transacted in 4,342 deals on Thursday.

Chinyere Joel-nwokeoma

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