NSE opens week on a positive note, stocks gain N64bn

NSE opens week on a positive note, stocks gain N64bn

Nigerian equity market recorded about N64billion gain in the value of listed equities yesterday. The market’s benchmark performance indicator – the All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) also gained 0.48percent on Monday.

The ASI appreciated by 161.67 points, to close at 32,644.88 points as against 32,459.17 points the preceding trading day.

Similarly, the market capitalisation closed at N11.251 trillion as against N11.187 trillion the preceding trading day. About 136,720 million shares valued at N1.76billion were traded in 2,849 deals.

The upturn was largely boosted by value appreciation recorded in some stocks such as: Flour Mills Nigeria Plc and Zenith International Bank who led the gainers list. 25 stocks gained against 16 losers.

Flour Mills Nigeria Plc’s share price increased the most, gaining N 2.22 at the close of the trading day, from N22.78 to N25 on Monday. Zenith International Bank Plc followed, gaining N0.71 from N20.6 to N21.31. Ecobank Transnational Incorporated Plc also gained N0.48, from N12.39 to N12.87. Access Bank Plc gained N0.45 from N9.13 to N9.58, Eco Bank Transnational Incorporated Plc followed with a N0.42 increase in its share price, from N8.5 to close at N8.92 at the close of trading.

On the laggard table, Seplat Plc recorded the biggest loss on Monday, losing N2 of its share price, from N467 to N465, Nigeria Breweries Plc followed with a loss of N0.99 from N154 to N153.01. United Bank for Africa Plc lost N0.54 of its share price which opened at N6.12 to close at N5.58. Cadbury Nigeria Plc followed losing N0.51 from N12.5 to close at N11.99, followed by Stanbic IBTC Holdings Plc who lost N0.5 of its share price from N31.5 to close at N31 at the Mondays closing.

The financial services dominated the top trades chart by the close of trading on Monday, with Guaranty trust Bank Plc and FCMB Group Plc taking the lead.

Guaranty Trust Bank Plc’s shares had the most trades with 26.445 million units traded for about  N908.967 million. FCMB Group Plc followed with 18.717 million units traded to a tone of N23.157 billion. Zenith International Bank Plc followed with 15.664 millon units traded for a total value of N330.165 million, Diamond Bank Plc followed with 13.870 million units traded for a total N17.229 million. FBN Holdings Plc traded 11.534 million units for the total value N71.262 million.

Hezron Atunde

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