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Stock market extends rally, gains N19bn

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The Nigerian equity market sustained its positive outlook on Thursday for the third consecutive trading session as the key performance indicators rose by 0.14 per cent.

Market watchers attributed the development to sustained confidence as bargain hunters leverage under-valued stocks.The Nigerian Stock Exchange All-Share Index appreciated by 33.28 basis points to close at 25,204.60bp s from the 25,171.32bps recorded the previous trading session.

Meanwhile, a turnover of 179.52 million shares traded in 3,055 deals was recorded in the day’s trading. The volume in the subsector was largely driven by trading activities on the shares of Guaranty Trust Bank Plc and Ecobank Plc. Further analysis of the day’s trading showed that International Breweries Plc topped the gainers’ table with the maximum 10 per cent to close at N3.30 per share.

 

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