Consumer goods stocks like that of Honeywell Flourmills Plc closed higher at the end of last week's transactions on the Nigerian Exchange Limited (NGX).
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Specifically, the All-Share Index advanced by 0.04 per cent or 16.71 points to close at 39,318.52 from 39,301.82 posted on Friday. Also, the market capitalisation increased by nine billion naira to N20.577 trillion compared with N20.568 trillion achieved on Friday. The market gain was driven by price appreciation in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Fidson Healthcare, Lafarge Africa, Africa Prudential and Guaranty Trust Bank. Analysts at United Capital Plc anticipated that profit-taking would dominate trading following gains posted by the stock market last week. This week, we expect some profit-taking on the bourse in light of the considerable price appreciation observed last week.
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