Nigerian stocks gain little despite promising company reports

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Market breadth closed on a positive note, pitting 27 gainers against 16 laggards.

The benchmark index added 8 basis points as it increased to 38,220.01, while market capitalisation inched up to N19.923 trillionCutix led gainers, leaping 10 per cent to N10. NCR closed at N2.49 after gaining 9.69 per cent. Regal Insurance rose by 9.52 per cent to N0.46.

Property climbed to N0.94, notching up 9.30 per cent in the process. Wapic Insurance traded up 9.26 per cent to close at N0.59.Red Star Express led losers, declining by 9.81 per cent to N3.31. ABC Transport contracted by 8.11 per cent to end trade at N0.34. NPF Microfinance Bank tumbled to N1.60, losing 6.98 per cent. Presco dipped to N70, recording 6.04 per cent loss. Chams closed at N0.20, going down by 4.76 per cent.In all, 282.625 million shares worth N1.

 

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