Exchange Recovers From Week Long Crash

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Activities at the Nigerian Stock Exchange (NSE) on Friday closed on a positive note, signifying a recovery from a week-long crash on the floor of the Exchange.

Trading from the opening of last week crashed till Thursday, only to recover before the end of transactions on Friday.

Specifically, All-share Index (AST) rose by 385.10 points, from 22,390.45 points, to close higher at 22,775.55 points.

Also, Exchange market capitalisation gained N123.19 billion, to close higher at N7.29 trillion, from N7.16 trillion traded by investors on Thursday.

However, the volume of traded shares depreciated by 80,348,898 shares, from 334,419,606 shares which exchanged hands at the floor of the market on Thursday, to close lower at 254,070,708 shares.

Share value lost N1.32 billion, from N2.87 billion traded by investors on Thursday, to also close lower at N1.55 billion, less than half of the precious value.

Out of 102 companies that traded at the exchange, 34 companies made gains in their transaction, only 10 companies lost, while the prices of shares of 58 companies remained unchanged.

The gainers chart was led by Diamond Bank, WAPCO, Guaranty Trust Bank and CCNN, which made 21 kobo, N2.10, 61 kobo and 36 kobo per share, respectively.

On the other hand, Dangote flour, Transcorp, OANDO and Cutix all lost 80 kobo, 5 kobo, N1.52 and 10 kobo per share, respectively to be the first four on the losers table.