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Stock market halts loss streak, rebounds by 0.16 pct

By Jide Ajia

Equities trading on floor of Nigerian Stock Exchange (NSE) ended a four day negative trend on Thursday as the All Share Index rose by 0.16 per cent to settle at 32,354.78 points.

The day’s performance advanced year-to-date gains to 20.43 per cent and reduced month-to-date loss to 2.34 per cent, while market capitalization improved by N18.1 billion to close at N11.151 trillion against N36.7 billion shed in the previous session.

Trading statistics showed 20 gainers against 23 losers with Oando leading the day’s gainers by 4.97 per cent to close at N7.39 per share, while Axa Mansard followed, with a gain of 4.91 per cent, to close at N2.35 per share, 7up added 4.85 per cent to close at N82 per share, Cutix Plc increased 4.76 per cent to close at N2.20 per share; and FCMB appreciated 4.35 per cent to close at N1.20 per share.

Conversely, May & Baker topped the day’s losers with a decline of 9.40 per cent to close at N3.18 per share, UACN followed with a decline of 4.95 per cent to close at N16.50 per share. Fidson followed, with a loss of 4.93 per cent to close at N2.70, Flourmill dipped 4.93 percent to close at N22 per share and Red Star Express fell 4.89 per cent to close at N5.06 per share.

Guaranty led the day’s activity chart with an exchange of 36.3 million shares worth N1.2 million. Transcorp was next with the sale of 21.3 million shares valued at N28.1 million, while FBN Holdings traded 16.1 million shares worth N97.5 million.

Sterling Bank exchanged 12.1 million shares valued at N12.4 million, and Livestock feeds emerged the fifth most traded stock with 8.4 million shares worth N8.5 million.

In all, investors exchanged a total of 168.5 million shares valued at N3.6 billion in3,536 deals in contrast to 311.4 million shares transacted Wednesday in 4,312 deals at N3 billion.

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