The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased further by 0.39 percent at the close of trading on Thursday April 18 as bargain hunting activities continued on the 9th floor of the Exchange.

As more investors moved to Custom Street with the aim of buying into recent dip, twenty-six (26) stocks gained as against thirteen (13) losers.

The All Share Index closed at 30,086.31points against the preceding day close of 29,970.86 points while Market Capitalisation closed at N11.301 trillion as against preceding day close of N11.257 trillion, indicating an increase of about N44billion. The Year-to-Date (ytd) return stood at -4.28percent.

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Dangote Cement Plc led the advancers list after its share price moved from N188 to N189, adding N1 or 0.53percent; while Unilever Nigeria Plc followed, rising from N33.5 to N34, up by 50kobo or 1.49percent. Mobil Oil Nigeria Plc declined most, from N177.9 to N175, losing N2.9 or 1.63percent, while Julius Berger Nigeria Plc followed after its share price declined from N27.5 to N25, losing N2.5 or 9.09percent.

“As the ASI continues to recover lost ground, we foresee a positive open to the next trading session. With the expectation of the release of positive earnings and as investors begin to regain confidence in the market; we should see market players continue to take position. In our opinion, prices at current level still present opportunities for medium to long term investors”, equity research analysts at Vetiva Capital Management said in their April 18 note.

The volume of stocks traded increased by 5.08percent, from 216.01million to 226.97million, while the total value of stocks traded decreased by 46.12percent, from N3.22billion to N1.73 billion in 3,399 deals.

The Financial Services sector led the activity chart with 168.69 million shares exchanged for N1.291 billion; followed by ICT with 13.94 million shares traded for N5million.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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