NSE: Tradings sustain upward trend

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NSE on shares
Tradings sustain upwrad trend at NSE

By Lilian Chukwu

Equity transactions on the Nigerian Stock Exchange (NSE) closed upbeat on Friday as some major capitalised stocks sustained price rally.

The News Agenc y of Nigeria (NAN) reports that market capitalisation appreciated by N30 billion or 0.31 per cent to close at N9.733 trillion against N9.703 trillion achieved on Thursday.

Similarly, the All-Share Index recorded marginal gain, appreciating by 87.84 points or 0.31 per cent to close at 28,335.40 compared with 28,247.56 recorded on Thursday.

Nigerian Breweries recorded the highest price gain to lead the gainers’ table, growing by N4.57 to close at N150 per share, while Forte Oil came second with N3.91 to close at N165.9 and then Total Oil, N3.9, to close at N295 per share.

Dangote Cement also increased by N1 to close at N183 and Guinness up by 99k to close at N97.99 per share.

On the other hand, Mobil Oil topped the losers’ chart, dropping by N3.28 to close at N191.72 per share.

ConOil trailed with a loss of N1.6 to close at N36.1 per share.

UACN shed 70k to close at N20.8, while Zenith Bank dipped by 49k to close at N15.21 and GT Bank decreased by 34k to close at N24 per share.

In spite of the high equity transactions, the volume of traded shares decreased, with an exchange of 217.81 million shares valued at N2.39 billion transacted in 2,804 deals.

Also,  this is in contrast with the 365.37 million shares worth N2.09 billion traded in 2,905 deals on Thursday.

UBA drove the turnover volume, having accounted for 66.99 million shares valued at N301.43 million.

It was followed by Access Bank with a total of 33.26 million worth N21.93 million and FBN Holdings sold 24.04 million shares valued at N74.12 million. (NAN)

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