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NSE Stops 8-Day Loss, 19 Stocks Gain.

NSE Stops 8-Day Loss, 19 Stocks Gain.

Trading on the floor of the Nigerian Stock Exchange ended on a positive note on Wednesday as 19 stocks recorded gains with market capitalization appreciating by N20bn.The NSE All-Share Index snapped its 8-day losing streak as most key sectors traded in positive territory, a total of 165.725MN shares valued at N1.126bn exchanged hands in 2,484 deals. The NSE market capitalization increased  to N8.784bn from N8.764bn, while the NSE ASI closed at 25,517 basis points from 25,461.34 basis points. The financial services sector led gains after advances in GTB Plc, UBA Plc and Ecobank Transnational Incorporated Plc by 1.19%, 1.18% and 0.82%, respectively.

 

The consumer goods and industrial goods sectors also closed higher following gains across PZ Cussons Nigeria Plc, Glaxo Smitkline Consumer Nigeria Plc, Nestle Nigeria Plc and Cap Plc by 4.90%, 3.40%, 1.25 % and 2.90%. However, the oil and gas sector continued to underperform as Forte Oil Plc (-919bps) plunged to a fresh year went down by 9.19%, while Total Nigeria Plc shed 4.14%. Market breadth turned positive for the first time in 14 sessions with 19 advances and 11 declines, on what would shape the next trading session, analysts at Vetiva Capital Management Limited, we attribute today’s rebound to bargain hunting, especially on select bellwether stocks believed to have been oversold. We think the ASI could hold on to gains in the coming sessions. On the global front, Asian markets closed higher as 19 Stocks Gain. stocks gained, while  European markets traded slightly went down despite better-than-expected Eurozone purchasing managers’ index for November, which came in at 54.1, the highest since December 2015. The United States futures pointed to a lower open ahead of the release of a slew of economic day.

 

Read more at: http://www.businessnews.com

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NSE moves 190.68m shares worth N1.33bn in 2,978 deals

NSE moves 190.68m shares worth N1.33bn in 2,978 deals

NSE moves 190.68m shares worth N1.33bn in 2,978 deals

The Nigerian Stock Exchange (NSE) on Friday moved 190.68 million shares valued at N1.33 billion transacted in 2,978 deals.
 
The News Agency of Nigeria (NAN) said this was in contrast with a turnover of 243.61 million shares worth N2.56 billion traded in 3,647 deals on Thursday. An analysis of the activity chart showed that Diamond Bank emerged the most-traded in volume terms, exchanging 51.35 million shares valued at N61.69 million. Wapic Insurance came second, accounting for 28.71 million shares worth N14.36 million and Guaranty Trust Bank sold 24.15 million worth N 579.73 million.Access Bank traded 13.76 million shares valued at N76.47 million and FBN Holding exchanged 10.45 million valued at N33.53 million.
 
NAN also reports that major blue chip equities recorded price depreciation and this was led by Nestle with a loss of N5 to close at N820 per share. CAP followed with N3.03 to close at N28.70 and Nigerian Breweries dipped N1.42, to close at N130.50 per share. Guinness dropped 75k to close at N95 and Zenith Bank, despite its interim dividend of 25k lost 30k to close at N15.60 per share.
 
Consequently, the All-Share Index lost 34.07 points or 0.12 per cent to close at 27,246.88 , compared with 27,280.95 recorded on Thursday. Also, the market capitalisation which opened at N9.369 trillion shed N11 billion or 0.12 per cent to close at N9.358 trillion.

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