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Q4 2018 GDP figure excites investors as equity market extends to eight consecutive trading days

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L–R: Mr. Tony Ibeziako, Head, Primary Market Department, The Nigerian Stock Exchange (NSE); Ms. Kudi Badmus, Chief Finance Officer, Eterna Plc; Mrs. Afolake Lawal, Director, Eterna Plc; Mr. Mahmud Tukur, Managing Director/CEO, Eterna Plc; Mr. Olumide Bolumole, Head, Listing Business Division, NSE; Mr. Lamis Shehu Dikko, Chairman, Eterna Plc and Mr. Oluwole Abegunde, Director, Eterna Plc during a Closing Gong Ceremony to commemorate its 30th year anniversary at the Exchange today in Lagos
L–R: Mr. Tony Ibeziako, Head, Primary Market Department, The Nigerian Stock Exchange (NSE); Ms. Kudi Badmus, Chief Finance Officer, Eterna Plc; Mrs. Afolake Lawal, Director, Eterna Plc; Mr. Mahmud Tukur, Managing Director/CEO, Eterna Plc; Mr. Olumide Bolumole, Head, Listing Business Division, NSE; Mr. Lamis Shehu Dikko, Chairman, Eterna Plc and Mr. Oluwole Abegunde, Director, Eterna Plc during a Closing Gong Ceremony to commemorate its 30th year anniversary at the Exchange today in Lagos

By FELIX OLOYEDE

Investors responded positively to the Gross Domestic Product (GDP) data released on Tuesday by the National Bureau of Statistics (NBS) as the Nigerian equity market continued its bullish trend for the eight consecutive trading sessions.

The NBS latest figures showed that Nigerian economy grew by 1.93 percent at the end of last year, up from 0.82 percent in 2017 and it grew 2.4 percent in the fourth quarter.

Bellwethers’ buy interest propelled the All Share Index (ASI) to a new height as it gained 680.44 absolute points, representing an increase of 2.14 per cent, to close at 32,462.31 points.

More so, Market Capitalization increased by N253.74 billion representing a growth of 2.14 per cent, to close at N12.11 trillion.

The Oil and Gas sector put up an impressive performance, rising 4.12 per cent and all other sectors rallied except the Insurance sector which slipped -0.23 per cent.

Jaiz, Livestock and Dangote Flour gained 10 per cent as 38 stocks appreciated, while Regency Alliance Insurance shed -8 per cent to top 13 losers.

Diamond Bank emerged the most actively in term of volume, trading 125 million shares worth N304 million in 186 deals, while GTBank was the most active in terms of value, as investors  traded 57.1 million of its shares valued at N2.2 billion in 413 deals.