The Nigerian equities market yesterday closed in the positive territory, gaining 0.04 per cent to reverse the previous dip.
In summary, the All Share Index (ASI) gained 16.91 absolute points, representing a growth of 0.04 per cent to close at 43,073.42 points. Similarly, the market capitalisation gained N6 billion to close at N15.409 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Nestle, Mobil Nigeria, Total and Guinness.
Analysts at APT Securities and Funds Limited said “Thanks to Dangote Cement, given its marginal lift to the market outlook yesterday as big capitalised banking stocks shed weight. We still expect some bargain hunting during the trading week.”
However, market breadth closed positive, recording 26 gainers against 39 losers. Cutix recorded the highest price gain of 6.12 per cent, to close at N2.60 per share. Mobil gained 4.97 per cent to close at N183.70, while Linkage Assurance appreciated by 4.88 per cent to close at 86 kobo per share.
NEM Insurance appreciated by 4.80 per cent to close at N2.62, while Continental Reinsurance went up by 4.68 per cent to close at N1.79 per share.
On the other hand, Japaul Oil led the losers’ chart by 8.33 per cent, to close at 88 kobo, FTN Cocoa Processors followed with a decline of 6.45 per cent to close at 29 kobo, per share. Unity Kapital down by 6.06 per cent to close at 31 kobo, while Glaxosmith and Interlink shed five per cent each to close at N20.90 and N3.61 per share, respectively.
The total volume traded declined by 50.94 per cent to 407.96 million shares, worth N6.12 billion, and traded in 5,247 deals.
Transactions in the shares of Zenith Bank topped the activity chart with 70.26 million shares valued at N2.19 billion. FBN Holdings followed with 53.02 million shares worth N605.31 million, while Mansard Insurance traded 50.36 million shares valued at N137.48 million.
UBA traded 27.38 million shares valued at N336.15 million, while Skye Bank transacted 19.07 million shares worth N16.93 million.
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