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Oil firms, others lift stock market index by 0.83%

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Nigerian Stock Exchange

Equity transactions on the ground of the Nigerian Stock Exchange sustained rising profile, following features recorded by main extremely capitalized shares, particularly Seplat and Mobil inflicting the All-share index to rise additional by zero.83 per cent.

Yesterday, the All Share Index (ASI) gained 322.72 absolute factors, representing a progress of zero.83 per cent to shut at 39,167.04 factors. Similarly, the market capitalisation gained N117 billion to shut at N14.188 trillion.

The progress was impacted by features recorded in medium and enormous capitalised shares, amongst that are; Seplat, Mobil Nigeria, Dangote Cement, Nestle Nigeria and Cadbury Nigeria.
Analysts at Afrinvest Limited stated: “we expect the positive performance to be sustained in the subsequent trading sessions as investors continue to hunt for bargain opportunities.”
Codros Capital Limited stated: “We look for extension of gains, as relatively lower prices continue to attract investors, supported by strengthened macroeconomic fundamentals.”

The market breadth closed optimistic with 27 gainers and 21 losers. Seplat recorded the very best worth acquire of eight.14 per cent, to shut at N769 per share. Mobil Nigeria adopted with a acquire of four.99 per cent to shut at N183, whereas NEM Insurance appreciated by four.80 per cent to shut at N2.62 per share.

Equity Assurance appreciated by four.76 per cent to shut at 22 kobo, whereas Unity Bank rose by four.55 per cent to shut at 92 kobo per share.On the opposite hand, Prestige Assurance led the losers’ chart by four.69 per cent, to shut at 61 kobo per share. Eterna oil adopted with a decline of four.48 per cent, to shut at N5.97 per share.

FCMB Groups depreciated by four.17 per cent to shut at N2.30 per share. Niger Insurance down by three.85 per cent to shut at 25 kobo, whereas AG Leventis Nigeria shed three.77 per cent to shut at 51 kobo per share.

However, the whole quantity traded declined by 43.39 per cent to 341.48 million shares, price N5.19 billion, and traded in three,769 offers. Transactions within the shares of United Capital topped the exercise chart with 82.66 million shares valued at N262.66 million.

Dangote Sugar adopted with 56.89 million shares price N1.19 billion, whereas African Prudential traded 49.58 million shares valued at N213.16 million.Guaranty Trust Bank traded 45.28 million shares valued at N1.92 billion, whereas UBA transacted 13.57 million shares price N150.77 million.

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