Nigerian Stock Exchange

Nigerian Stock Exchange: Japaul Oil, Unity Bank top gainers

After declining by 16 percent in response to the Nigerian Stock Exchange, NSE, par value rule that allows stock to trade to as low as one kobo, Japaul Oil and Maritime Services Plc, today rebounded by 9.52 percent following profit taking by investors that had earlier booked some profits.

Specifically, the company, which led 20 other gainers during the day, rose by four kobo or 9.52 percent to close at N0.46 from N0.42.

This resulted in N3 billion or 0.02 percent increase to settle at N15.280 trillion from N15.277 trillion on Friday.

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Other gainers that emerged during the day include Unity Bank Plc, which recorded 9.40 percent increase to close at N1.63 from N1.49, followed by NASCON Allied Industries Plc with 5.11 percent increase to close at N21.60 from N20.55.

Nigerian Stock Exchange
Nigerian Stock Exchange

PZ Cusson Nigeria Plc and Red Star Express, which closed the list of the top five gainers, advanced by five percent each to close at N24.15 from N23.00 and N6.30 from N6.00 per share respectively.

Further analysis of the the day’s trading shows that 26 companies recorded losses led by Courtville Business Solution Plc with 6.25 percent decline to close at n0.30 from N0.32.

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Mobil Oil Nigeria Plc and Caverton Offshore Group Plc declined by five percent each to close at N180.50 from N190.00 and N2.28 from N2.40 per share respectively.

May & Baker Plc ranked fourth on list, declining by 4.91 percent to close at N2.71 from N2.85, while Chemical and Allied Products Plc, a subsidiary of UACN Plc closed lower at 4.88 percent to close at N4.09 from N4.30 per share.

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