Nigeria Stock Exchange resumes with 1.49% growth

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The Nigerian Stock Exchange (NSE) resumed on Monday with a growth of 1.49 per cent, as predicted by market analysts.

The All-Share Index rose by 637.70 points or 1.49 per cent, as a result of gains by some highly capitalised stocks.

Similarly, the market capitalisation which opened at N15.403 trillion rose by N229 billion or 1.49 per cent to close at N15.632 trillion.

The market indices were lifted by price appreciation recorded by Seplat, Total, Dangote Cement and Presco, among others.

Seplat led the gainers’ chart with a gain of N59.90 to close at N760 per share.

Total came second with N11.50 to close at N254, while Dangote Cement increased by N10 to close at N275 per share.

Presco improved by N5.25 to close at N78, while Beta Glass went up by N3.60 to close at N75.70 per share.

On the other hand, Mobil Oil led the losers’ table with a loss of N2 to close at N175 per share.

Guinness Nigeria trailed with N1.70 to close at N98, while Nigerian Breweries shed N1.10 to close at N129.90 per share.

Flour Mills dipped 55k to close at N33.05, while Zenith International Bank declined by 45k to close at N31.10 per share.

Guaranty Trust Bank topped the activity chart with a turnover of 45.99 million shares worth N2.25 billion.

Access Bank followed with an account of 28.67 million shares valued at N383.05 million, while FBN Holdings traded 25.42 million shares worth N292.67 million.

Courtville Business Solutions sold 15.362 million shares valued at N4.69 million, while United Bank for Africa exchanged 13.58 million shares worth N173.87 million.

Overall, the total volume of shares traded closed lower as investors bought and sold 252.05 million shares valued at N5.75 billion transacted in 4,270 deals.

This was in contrast with a turnover of 403.14 million shares worth N9.14 billion achieved in 4,738 deals on Friday.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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