Equities at Nigeria Stock Exchange Gains 0.80% As Market Caps Adds N91.4 Bln

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The equities market of the Nigerian Stock Exchange (NSE) closed Thursday on a positive note, extending the gains to 6th consecutive trading session.

The NSE All Share Index (ASI) further advanced by 0.80 percent to close at 33,246.91 points compared to an appreciation of 0.47 per cent recorded in the previous session when ASI closed at 32,981.63 points.

The day’s performance erased Month-to-Date loss previously recorded, to a positive 0.4 per cent while the Year-to-Date return improved to 23.42 per cent.

The market capitalisation added N91.4billion to close at N11.459 trillion.

The Equities market has recorded a whopping gain of N325.4 billion in six consecutive trading sessions which started Thursday 6th July, as investors take positions ahead of an optimistic first half performance scorecard to be released by quoted companies in the next 1-2 weeks.

All sectoral indices also closed in the green, except the consumer goods index which fell marginally by 0.01 percent on account of a 7 per cent value depreciation in the share price of Champion Breweries.

The NSE Oil and Gas Index posted the largest gain of 2.82 per cent, as Mobil and Forte Oil topped the list of 33 gainers recorded for the day.

Mobil led the gainers by 9.49 percent to close at N259 per share, while Forte Oil recorded a gain of 7 per cent to close at N53.50, Guinness was next with an appreciation of 5 percent to close at N63 per share. Cadbury and Custodian and Allied Insurance also grew by 5 percent each to close at N11.97 and N3.57 per share respectively.

On the other hand, Champion Breweries led the day’s 19 laggards, recording the highest loss of 7 per cent to close at N2.39. First Aluminum followed with a drop of 5 per cent to close at 57 kobo. NCR lost 4.93 per cent to close at N7.33 per share, BOC Gases declined by 4.85 per cent to close at N3.14 while Linkage Assurance depreciated 4.76 per cent to close at 60 kobo.

Total volume traded increased by 7 percent to 288.9 million shares valued at N3.8 billion in 3,631 deals. This is in comparison with 270.9 million shares valued at N2.77 billion and exchanged in 3,940 deals, recorded in previous trading session.

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Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA). He currently lives in Manhattan New York

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