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Investors on the Nigerian Stock Exchange (NSE) recovered with a N34 billion gain on the resumption of trading on Monday of the new week after a slump occasioned by a series of losses last week.
The market’s All-Share Index and Market Capitalization had last week declined by 1.18 per cent or N245 billion amidst the sell-offs brought by profit-taking experienced in the market.
But during Monday’s trading session, the All Share Index (ASI) rose by 0.17 per cent or 64 .90 index point to close at 39,396.57 basis points up from 39, 331.61 basis point.
Remarkably, the market capitalisation appreciated by 0.17 per cent or N34 billion to close the transaction at N20. 612 trillion up from N20578 trillion. Also, Investors bought and sold 297. 269 million worth of shares valued at N3.154 billion in 4,655 deals. The market breadth was positive with 25 equities advancing while 14 stocks declined.
Linkage Assurance led the gainers’ table in percentage terms, surging by 10 per cent to close at 55 Kobo per share.
Also, Ardova Plc rose by 10 per cent to close at N14. 8 Kobo per share, while Champion Breweries appreciated by 9.52 per cent to close at N1. 84 Kobo per share.
Oando and Morrison Plc climber by 9.43 and 9.09 per cent to close at N2. 9 and 72 Kobo per share respectively.
Meyer Plc dominated the losers’ chart, declining by 10 per cent to close at 45 Kobo.
Livestock Feeds shed 9.87 per cent to close at N2. 01 per share, while SCOA Nigeria lost 9.85 per cent to close at N2. 38 Kobo per share.
Also, Ikeja Hotel and NEM Insurance fell by 9.48 and 6.88 per cent to close at N1. 05 Kobo and N1. 76 Kobo per share respectively.
Zenith Bank was the most active and valuable stock, trading at 66.496 million shares valued at N1.669 billion.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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