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Trading Resumes On NSE After Sallah On Positive Trend, Indices Up 0.23%

Equity transactions on the Nigerian Stock Exchange (NSE) resumed after the Eid-el-Kabir celebration on Wednesday in an upward trend with market indicators growing by 0.23 per cent. All-Share Index closed higher, appreciating by 64.61 points or 0.23 per cent to close at 27,642.13 points compared with 27,577.52 points recorded on Friday.
Similarly, market capitalisation went up by N22 billion to close at N9.50 trillion against N9.48 trillion achieved on Friday. ConOil recorded the highest price gain to lead the gainers’ table, growing by N2.42 to close at N26.21 per share. Unilever came second with a gain of N2.01 to close at N42.28 per share, while Dangote Cement appreciated by N1.51 to close at N174.51 per share. International Breweries increased by 3k to close at N19.3 per share and Stanbic IBTC chalked up 22k to close at N15.22 per share. Conversely, Seplat topped the losers’ chart, depreciating by N5 to close at N320 per share. Cadbury trailed with a loss of 20k to close at N13.8 per share and Nigerian Breweries decreased by 12k to close at N141.63 per share. Diamond Bank dipped 0.07k to close at N1.13 per share and Honeyflour dropped 0.06k to close at N1.3 per share. In all, the volume of shares traded closed lower with an exchange of 182.29 million shares valued at N1.79 billion transacted in 2,776 deals. This performance contrasted with 272.85 million shares worth N1.52 billion traded in 2,843 deals on Friday. GT Bank drove the turnover volume, accounting for 43.43 million shares valued at N1.17 billion of the day’s transactions. It was followed by Diamond Bank with a total of 31.02 million shares worth N35.61 million traded and FCMB, which sold 21.92 million shares valued at N22.56 million. FBN Holdings transacted 16.41 million shares worth N49.99 million and Skye Bank exchanged 14.78 million shares valued at N189.63 million.

About Editor

Otunba Sayo Akintola is a 1992 graduate of Linguistics from the University of Ibadan, Oyo State. He holds a post-graduate diploma in Financial Management and MBA from Abubakar Tafawa Balewa University, Bauchi. He started his 12-year sojourn in journalism at the Nigerian Tribune in 1993 as Business and Economy reporter. He rose through the ranks to become the Group Business Editor of the nation’s oldest surviving private national newspaper, the Nigerian Tribune. He set up World Street Journal magazine in 2018.

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