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’Femi Asu
The nation’s stock market halted its eight-day losing streak on Thursday on the back of the price appreciation recorded by Dangote Cement Plc and six other stocks.
The market, which had declined for eighth straight trading sessions amid negative sentiment, rebounded on Thursday despite the losses recorded by 46 stocks.
The All-Share Index of the Nigerian Stock Exchange rose by 0.78 per cent to 41,014.30 basis points while the market capitalisation increased by N170bn to N21.29tn.
The top five gainers at the end of trading on the floor of the NSE were Dangote Cement, Mutual Benefits Assurance Plc, Sovereign Trust Insurance Plc, Vitafoam Nigeria Plc and Unilever Nigeria Plc.
Goddy Egene
The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion in January due to sustained high demand for stocks.
However, the bears set in the first week of February as some investors moved in to lock in part of the gains.
Bearish sentiments dominated the local bourse in all the five trading sessions. Consequently, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) fell by 1.66 per cent to close lower at 41.709.09, while market capitalisation shed N368 billion to be at N21.819 trillion.