The Nigerian equities market commenced trading for the week on a high, sending the All Share Index upward by 0.33 per cent on Monday.
The ASI gained 131.82 basis point up to 40,571.67 basis point from the 40,439.85 basis point it closed the last trading session with on Friday. Significantly, the market capitalisation appreciated by N69 billion, to close at N21.224 trillion up from N21. 155 trillion, indicating a 0.33 per cent growth.
The market was buoyed by gains made by highly capitalized equities like Seplat Petroleum, Japaul Gold, Mutual Benefits Assurance, AIICO Insurance and Multiverse Mining and exploration.
However, the market turnover dipped 47.86 per cent, as investors bought and sold 206.243 million shares worth N2,163 billion in 4,264 deals, as against the 395.623 million shares worth N5.190 billion in 5,321 deals traded on Friday.
The market breadth came out positive with 31 gainers and 13 losers, compared to 30 gainers and nine losers the previous trading session.
Seplat Petroleum dominated the gainers’ table, leaping by 10 per cent to close at N544. 5 per share.
Japaul Gold surged by 9.86 per cent to close at 78 Kobo per share, while Mutual Benefits Assurance gained 9.52 per cent to close at 46 Kobo per share.
Similarly, AIICO Insurance and Multiverse climbed by 9.26 and 9.09 per cent to close at N1. 18 and 24 Kobo per share respectively.
On the other hand, Royal Exchange and Conoil led the losers’ table, falling by 10 per cent to close at 27 Kobo and N18. 9 per share respectively.
RTBriscoe closely followed when it shed 9.09 per cent to close at 2 Kobo, while Chi Plc declined by 8.70 per cent to close at 42 Kobo. Also, Sovereign Trust Insurance dropped 7.69 per cent to close at 24 Kobo per share.
For the second consecutive trading sessions, Zenith Bank was both the most active and valuable stock, trading at 21.506million shares worth N539,621,070.15.
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