High-cap stocks lifts equities market by 0.72%


The equities market closed monday on a positive note, as Nigerian Stock Exchange All-Share Index (NSE ASI) appreciated by 0.72per cent to close at 26,510.90basis points, with a corresponding market capitalization of N9.19 trillion.

Gain in the nation’s equities market was largely driven by renewed interest in high-cap stocks; Dangote Cement that gained 101 per cent  and GTBank that rose by 81 per cent .

The likes of  Zenith Bank droped by 13 per cent and Nestle dip by  23per cent as investors take profit.

A total of 196 million units of share valued at N2.39 billion were exchanged in the session, representing a 11.3per cent rise in volume traded and a six per cent decline in market turnover.

Typically, Banking equities led by: GTBank and UBA, accounted for 80 per cent bulk of volume traded.

The Banking Index recorded the most significant  gain with 2.36 per cent growth , followed by the Industrial -Index tracker which gained 0.72 per cent.

The Consumer goods index dropped by 0.46per cent, and Oil & Gas down by 0.05per cent .
Unity Bank rose by 8.22 per cent to led  the gainers chart while flour Mill dipped by five per cent topped the losers chart.

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