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HomeNEWSInvestors gain N297bn as 36 stocks push market higher

Investors gain N297bn as 36 stocks push market higher

nigerian stock exchange

Investors in the Nigerian equity market gained N297bn on Monday as 36 firms recorded price appreciation at the end of trading.

The equity market sustained its positive outlook as the Nigerian Stock Exchange All-Share Index and the market capitalization rose further by 2.11 percent.

The market breadth closed positive with 36 gainers against 10 decliners.

The ASI rose by 568.72 basis points or 2.11 percent to close at 27.554.49 as against 26,985.77 recorded the previous day.

The market capitalization of equities appreciated by N297bn to close higher at N14.40tn from N14.11tn as market sentiment remained in the green territory.

Meanwhile, a turnover of 603.95 million shares in 5,984 deals was recorded in the day’s trading.

The premium subsector was the most active (measured by turnover volume), with 331.07 million shares exchanged by investors in 2,610 deals.

Volume in the subsector was driven by trading activities on the shares of the United Bank for Africa Plc and Zenith Bank Plc.

The banking sub-sector was boosted by trading activities on the shares of Guaranty Trust Bank Plc and Sterling Bank Plc.

Further analysis of the day’s trading showed that GSK Plc and Red Star Express Plc topped the gainers’ table with 10 percent maximum gain each to close at N5.50 and N3.30 per share respectively.

NPF MFB Plc rose by 9.60 percent to close at N1.37 per share while Africa Prudential Plc appreciated by 9.47 percent to close at N5.20 per share.

On the other hand, Triple G Plc led the losers’ chart with a drop of 10 percent to close at 36 kobo per share. Oando Plc followed with a loss of 8.73 percent to close at N2.09 per share while UAC-Property Plc dropped by 6.52 percent to close 86 kobo per share.

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