• Thursday, February 22, 2024
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Market Watch: Transactions maintain bullish trend

Equity transactions on the Nigerian Stock Exchange (NSE) on Friday closed on a bullish note with some blue chips sustaining price rally.

Nestle led the gainers’ table, gaining N39.35 to close at N1050 per share.

Dangote Cement came second on the gainers’ chart with N4 to close at N224, while Forte Oil rose by N3.89 to close at N223.89 per share.

Lafarge Wapco grew by N2.6 to close at N127.5, while Nigerian Breweries appreciated by N1.25 to close at N179 per share.

Consequently, the NSE All-Share appreciated by 365.82 points or 0.90 per cent to close higher at 41,049.27 against the 40,683.45 achieved on Thursday.

Also, the market capitalisation, which opened at N13.433 trillion, rose by N121 billion or 0.90 per cent to close at N13.554 trillion.

On the other hand, Seplat led the losers’ table, dropping N12 to close at N64 per share.

Mobil Oil came second on the losers’ chart with N6 to close at N174, while Total Oil decreased by N2.57 to close at N172.53 per share.

Guinness dipped N1.88 to close at N175, while UAC Property depreciated by 63k to close at N14.55 per

In all, a total of 580.256 million shares valued at N4.64 billion were exchanged in 4,388 deals, representing a growth of 112.21 per cent.

This was against a turnover of 273.435 million shares worth N32.73 billion achieved in 4,188 deals on Thursday.

The Financial services sector remained the investors’ delight as UBCAP emerged the most traded stock, accounting for 252.88 million shares valued N508.29 million.

It was trailed by UBA, which sold 55.66 million shares worth N387.72 million, while GTBank accounted for 38.24 million shares valued N1.09 billion.

FBN Holdings traded 26.52 million shares worth N378.40 million, while investors in Sky Bank staked N69.59 million on 26.35 million shares.