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Medium, large capitalized stocks halt downtrend in Equity market

Nigerian Stock Exchanging in trading session

After downtrend of two consecutive trading days, the Nigerian Stock Exchange closed on a positive note on Thursday on the back of appreciation recorded by medium and large capitalized stocks.

the All Share Index (ASI) increased by 35.24 absolute points, representing an increase of 0.11 per cent to closed at 32,417.82 points.

Also, the Market Capitalization was up by N12.87 billion, representing a growth of 0.11 per cent to close at N11.84 trillion.

Appreciation by Flour Mill (+7.60 per cent), Fidelity Bank (+1.58 per cent), Dangote Sugar (+1.03 per cent), Diamond Bank (+0.80%), Nestle (+0.68), and Zenith Bank (+0.23%) were instrumental the upturn the market recorded on Thursday.

Nigerins rose 10 per cent to lead 14 other gainers to emerge the top gainer on Thursday, while The Initiates PLC shed -9.68 per cent to top the 17 losers list.

Investors exchanged 48,719,583 GTBank stock worth N1.78 billion to emerge the most active stock in terms of volume and value.

A total of 148,527,210 shares were traded on Thursday in 2,857, which -3.08 per cent lower than the amount exchanged the previous day, valued at N2.86 billion.