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The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals.
Trading in the domestic equities market commenced the week on a positive note, growing by 0.33 per cent due to buying interests in Seplat, Lafarge Africa and Tier-1 banking stocks.
The stock market posted positive performance last week despite profit taking by some investors, as it sustained the growth recorded in the previous week.
The Nigerian equities market resumed November trading with a loss of 0.17 per cent, halting the six-day bullish run on the back of profit taking.
The Nigerian Stock Exchange market capitalisation gained N239 billion in about six hours of trading on Wednesday, due to crash in money market instruments and improved third quarter earnings.
The bulls continued to dominate trading on the nation’s bourse with the market capitalisation appreciating further by N107 billion on Thursday, amid gains by blue chips.
The Nigerian Stock Exchange (NSE) key market indicators on Wednesday sustained positive rally, appreciating by 0.50 per cent due to monetary policy rate cut to 11.5 per cent.
Activities on the Nigerian Stock Exchange (NSE) on Tuesday maintained negative sentiment, with the All-Share Index (ASI) declining further by 0.39 per cent.
The momentum of activities at the Nigerian equities market has increased as investors opened up more orders in early positioning for the often-expected Santa Claus rally. Investors staked N15.5 billion on 1.38 billion ordinary shares in 14,528 deals last week, 32.3 per cent increase on total turnover volume of 1.04 billion ordinary shares valued at N14.63 billion in 14,974 deals traded in the previous week.
Chams Plc led the price gainers with 10 per cent following investors sustained their high demand for the stock after it recovered from a loss in 2017 to profit last year.
The Nigerian stocks market yesterday posted a gain of 1.98 per cent, its best performance so far in 2019, to further extend bullish trend to five consecutive trading days and return the year-to-date (YTD) performance to positive after seven months of being negative.
The Nigerian equities market opened the week on a bullish note as investors continued to react positively to nine month corporate earnings being released by companies.
Analysts at Afrinvest Limited stated that “we anticipate a rebound in today’s trading, as we saw significant buy interest in banking stocks yesterday, which we expect to be sustained throughout this week.”
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