Nigerian Stock Exchange Appreciates by N22bn

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The Nigerian Stock Exchange (NSE) appreciated on Wednesday, following resumption from two-day public holiday declared by the Federal Government.

The stock market gained N22bn to close at N9.495 trillion from N9.473 trillion recorded on Friday, while the gauge, All-Share Index, appreciated from 27,577.52 basis points to close at 27,642.13 basis points. Despite 20 stocks closing in the red.

A total of 182.298 million shares valued at N1.788 billion was traded in 2,776 transactions.

The Nigerian Stock Exchange All Share Index rose 0.23 percent, after shares across industrial and consumer goods companies appreciated.

Industrial goods sector climbed 0.48 percent, boosted by 0.87 percent gain from dangote Cement. While, consumer goods sector rode on the back of stocks of  Unilever Nigeria Plc (4.99 per cent), Champion Breweries Plc (0.241 per cent) and Dangote Flour Plc (2.37 per cent gain).

However, the financial services sector declined, with shares of Diamond Bank Plc leading with -5.83 percent, sterling Bank Plc 4.95 percent and FCMB Group Plc 4.48 percent.

The oil and gas sector was flat, even after a 10.17 percent rally from Conoil Plc and a 2 percent advance in Oando Plc. The sector was weighed upon by a decline in Seplat Petroleum Development Company Limited.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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