Despite price losses that outweighed gains, transactions in the equities sector of the Nigerian Stock Exchange , sustained rising profile as market capitalisation rose by N1.34 trillion.
The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which were; Nigerian Breweries, Cadbury Nigeria, Dangote Flour Mills, Cement Company of Northern Nigeria, and Stanbic IBTC Holdings. Also, Cordros Capital Limited, said: “Our outlook for equities in the short to medium term remains conservative, amidst absence of any catalyst of market returns.”Airtel Africa traded 100,110 shares valued at N37.97 million to close at N399.30 per share, and appreciated by 10 per cent or N36.30 per share at the first day of listing.
On the other hand, GlaxoSmithKline Consumer Nigeria led the losers’ chart with 9.78 per cent to close at N8.30 per share. Courteville Business Solutions followed with 8.70 per cent to close at 21 kobo, and Ecobank Transnational Incorporated shed 8.65 per cent to close at N9.50, per share.
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