NSE reverses bearish trend, posts 0.73% growth

Activities on the Nigerian Stock Exchange (NSE) closed for the week on positive note on Friday, reversing the three-day negative trend.
The market grew by 0.73 per cent due to huge price gains posted by Nestlé Nigeria Plc.
Specifically, the All-Shares Index rose by 182.49 points or 0.73 per cent to close at 25,012.08 from 24,829.59 posted on Thursday.
Similarly, the market capitalisation, which opened at N8.593 trillion, improved by N63 billion or 0.73 per cent to close at N8.656 trillion.
Nestle  topped the gainers’ table with a gain of N58. 42 to close at N628.42 per share.
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Mobil came second with a gain of N5 to close at N285, while Forte Oil appreciated by N2.51 to close at N51. 87 per share.
Betaglass grew by N1.91 to close at N40.18, while Okomu Oil increased by 70k to close at N48.70 per share.
Conversely, 7UP led the losers’ table with a loss of N5 to close at N95 per share.
Custodian Allied Insurance trailed with 16k to close at N3.25, while Guaranty Trust Bank dipped by 10k to close at N24.80 per share.
Nigerian Breweries also lost 10k to close at N128. 90, while UCAP lost 5k to close at N2.85 per share.
The volume of shares traded rose by 47.40 per cent with a turnover of 274.17 million shares worth N3.39 billion transacted in 2,856 deals.
This was in contrast to the 186 million shares valued at N1.77 billion exchanged in 2,899 deals on Thursday.
Zenith Bank remained investors’ delight with a total of 132.56 million shares worth N1.88 billion.
Sterling Bank sold 25.42 million shares valued at  N18.55 million, while ETI accounted for 20.19 million shares worth N199.97 million.
Fidelity Bank traded 13.64 million shares valued at N11.13 million, while Transcorp exchanged 9.08 million shares worth N6.28 million.