Bullish Stock Market Gains N178bn
The Nigerian Equities Market commenced trading for the week on a bullish note pushing the All-Share Index northward by 0.89 percent from the bearish state it closed last week.
The Nigerian bourse lost N279 billion on Friday last week, following the 0.69 percent depreciation of the NSE All-Share Index and Market Capitalization, drawing the market to close at 38,382.39 and N20.082 trillion respectively.
On resumption of trading on Monday however, the ASI gained 340.48 index point or 0.89 per cent to close at 38,722.87 basis point up from 38,382.39 basis point.
Remarkably, the market capitalisation soared by N178 billion to close at N20.259 trillion up from N20.081 trillion it commenced trading with.
Also, the market turnover Increased by 4.6 per cent, with 277.235 million shares valued at N3.053 billion in 4,299 deals exchanged hands, compared to 290.615 million worth of shares valued at N4.017 billion in 4,311 deals by investors on Friday.
The market breadth came out positive with 25 advanced equities and five laggards, as against 26 gainers and eleven losers recorded the previous trading session.
Julius Berger Plc and Stanbic IBTC Bank led the gainers’ table in percentage parameters by 10 percent to close at N18. 7 Kobo and N44 per share respectively.
In the same vein, UAC Nigeria rose by 6.67 percent to close at N8 per share, while John Holt Plc appreciated by 6.52 percent to close at N0. 49 Kobo per share. Also, International Breweries climbed by 5.88 percent to close at N5. 4 Kobo per share.
Conversely, Champion Breweries dominated the losers’ table in percentage terms, declining by 8.20 percent to close at N2. 24 Kobo per share.
Jaiz Bank dropped 4.48 percent to close at N0. 64 Kobo per share, while Japaul Gold fell 4.08 percent to close at N0. 47 Kobo per share.
Similarly, Consolidated Hallmark Insurance and Lean Africa shed 3 23 and 2 73 percent to close at N0. 3 Kobo and N1. 07 Kobo per share respectively.
Union Bank of Nigeria was the most active stock, trading 79.894 million shares valued atN423.434 million, while Guaranty Trust Bank was the most valuable equity at N1.123 billion.
Comments are closed.