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Nigerian Exchange reverses gain, dips 0.15%

Felix Oloyede

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Nigerian Exchange up 1.4% this week

Nigerian equity market halted its two consecutive trading uptrend on Thursday as the benchmark index depreciated by 0.15% to close at 38,911.31 points, a difference of 57.03 points from 38,968.34 points on Wednesday.

The market capitalization also shed N30 billion to close at N20,273 trillion as against Wednesday’s N20,303 trillion.

Investors exchanged 130.20 million shares worth N1.43 billion in 2,962 deals.

The market sentiment remained negative as the market closed with 10 gainers relative to 17 losers.

Top on the gainers’ list for the day was Unity Bank, which appreciated by N0.05k to close at N0.57k. It was followed by FTN Cocoa Processors, which gained N0.04k to close at N0.50k, while Cornerstone Insurance Company appreciated by N0.04k to close at N0.52k.

On the losing side, Eterna was top on the list after a share price depreciation of N0.68k to close at N6.52k, followed by SCOA Nigeria which lost N0.11k to close at N1.06k and International Breweries, which lost N0.20k to close at N4.80k.

Access Bank recorded the highest volume of 24.8 million traded shares followed by Universal Insurance Company with 15.3 million traded shares.

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