Umoru Abdulkadir
The bulls tightened their grip on the market on Monday to sustain the gains recorded on the first trading session after Christmas celebration, as the market opens new week on a positive note.
Precisely, the All-Share Index advanced by 192.86 basis points or 0.72 per cent to close at 26,609.34 points as against the 26,416.48 points recorded Friday, while the market capitalisation of listed equities inched up N93.10 billion or 0.72 per cent to close at N12.846 trillion in contrast to N12.753 trillion achieved the preceding day.
Consequently, the market breadth closed positive as Seplat Petroleum Development Company led the 24 best performing stocks against 12 worst performing stocks topped by Union Bank of Nigeria while the year-to-date returns moderated at -15.34 per cent.
A look at the price movement chart shows that Seplat Petroleum Development Company topped the gainers table with N48.30 to close at N598 per share. It was followed by Nestle Nigeria which appreciated by N39.90 to close at N1469 per share. Nigeria Breweries nicked 180 kobo to close at N59.75 per share.
While Dangote Cement added 150 kobo to close at N141.50 per share, UPDC Real Estate Investment Trust appreciated by 40 kobo to close at N4.70 per share, rounding off the table for the top five gainers on Monday.
Union Bank of Nigeria, on the other hand, led the worst-performing stocks today when it lost 65 kobo to close at N6.15 per share, C & I Leasing followed when it shed 60 kobo to close at N5.40 per share. Access Bank Plc dipped 20 kobo to close at N9.75 per share.
While Learn Africa dropped 12 kobo to close at N1.13 per share, Trans Express fell by 8 kobo to close at N0.92 per share, among others.
A breakdown of the activity chart shows that Transnational Corporation stocks emerged most actively traded stocks, exchanging 138.9 million shares valued at N137.3 million, followed by Guaranty Trust Bank which accounted for 48.4 million shares worth N1.40 billion. Access Bank traded 45 million shares estimate at N437.6 million.
While United Bank for Africa sold 39.4 million shares worth N280.8 million, Zenith Bank Plc had a turnover of 34.7 million shares valued at N640.8 million to boost market turnover and equities value for the day.
In all, Market turnover closes positive, as Investors transacted a total of 382.8 million shares worth N7.2 billion in 3,212 deals in contrast to 222.5 million shares valued at N3.04 billion achieved in 2,540 deals the previous day, representing a 72.04 per cent increase.
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