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Stocks close another trading session in green as investors buy Mobil, CAP, Stanbic, others

Nigeria’s stock market witnessed positive close for the third time this week, thanks to investors that bought shares of Mobil Nigeria Plc, CAP Plc, Stanbic IBTC Holdings Plc, Presco Plc, and GTBank Plc. Increased buy-side activities on the local Bourse made stock investors book N20billion gain.

The market continues to enjoy positive investors’ patronage as a number of bellwether stocks post better-than-expected earnings results. Market watchers expect no major shift from this pattern on Thursday, though not without the presence of short term players who might activate some level of profit taking after recent gains.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 0.16percent to 24,882.04 points on Wednesday August 5, as against 24,841.94 points the preceding trading day while the value of listed stocks increased from N12.959trillion to N12.979trillion.

In 3,860 deals, investors exchanged 383,289,488 units valued at N3.892billion. UACN, FBN Holdings, Access Bank, Zenith Bank and Presco were actively traded stock on Wednesday.

Mobil Nigeria Plc share price advanced most during the remote trading session, moving from day open low of N173.4 to N175, adding N1.6 or 0.92percent.

It was followed by CAP Plc which increased from N15.4 to N16.9, adding N1.5 or 9.74percent. Stanbic IBTC went up from N30 to N31.5, adding N1.5 or 5percent. Presco advanced from N47.45 to N48, adding 55kobo or 1.16percent, while GTBank share price also increased from N23.15 to N23.6, up by 45kobo or 1.94percent.

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