The Nigerian equities market commenced trading week with a gain of 0.30 per cent on high capitalised stocks like Dangote Cement appreciations.
In summary, the All Share Index (ASI) gained 108.52 absolute points, representing a growth of 0.30 per cent to close at 36,711.96 points. Similarly, the market capitalisation gained N39 billion to close at N13.299 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Guaranty Trust Bank, Nascon Allied Industries, Chemical and Allied Products (CAP) and Nigerian Breweries.
Analysts at APT Securities and Funds Limited noted that “the Nigerian equities market has experienced recovery, which is evidenced in the two consecutive gains of the NSE-ASI coupled with the weight gain in majority of indices. We advise investors to take positions so as to benefit from the favourable movements in the market.”
Also, market breadth closed positive, with 20 gainers versus 18 losers. Cutix recorded the highest price gain of 10 per cent, to close at N3.30 per share. Continental Reinsurance gained six per cent to close at N1.59, while Wema Bank appreciated by 5.80 per cent to close at 73 kobo per share.
Transnational Corporation of Nigeria (Transcorp) appreciated by 4.27 per cent to close at N1.22, while Japaul Oil and Maritime Services gained 3.32 per cent to close at 32 kobo per share.
On the other hand, Abbey Mortgage Bank led the losers’ chart by 10 per cent, to close at N1.17 per share. UPL shed 9.80 per cent to close at N2.30, while Forte Oil depreciated by 9.68 per cent to close at N25.20 per share.
UAC Property declined by 9.42 per cent to close at N1.73 and Aiico insurance also shed 8.96 per cent to close at 61 kobo per share.
However, the total volume traded depreciated by 66.72 per cent to 226.27 million shares, worth N2.21 billion, and traded in 3,624 deals. Transactions in the shares of Med-View Airline topped the activity chart with 100 million shares valued at N214 million. Transcorp followed with 16.15 million shares worth N19.56 million, while Zenith Bank traded 11.29 million shares valued at N260.27 million.
Guaranty Trust Bank traded 8.19 million shares valued at N315.55 million, while Access Bank transacted 6.75 million shares worth N67.51 million.
Kenya Finance Minister Arrested For Corruption
Kenya’s finance minister has surrendered himself to the police after the chief prosecutor ordered his arrest over allegations of corruption....
Imo Senatorial Contestant Takes Protest To INEC Office Over Certificate
A contestant in the last Imo North Senatorial District election, Benjamin Nwajumogu, yesterday stormed the National Headquarters of the Independent...
Zamfara APC: PDP Governors Hail Supreme Court
The PDP Governors Forum (PDPGF) has expressed its joy as the Supreme Court rejected the application by the All Progressives...
PMB Greets Former Lagos Governor, Lateef Jakande At 90
President Muhammadu Buhari has sent warm felicitations to former Governor of Lagos State, Alhaji Lateef Kayode Jakande, who turns 90...
Sen Wammakko Donates Food, Clothing To Sokoto Bandits’ Attack Victims
Immediate past govenror of Sokoto state and Senator representing Sokoto North Senatorial district, Aliyu Magatakarda Wamakko has donated no fewer...
Forum Requests Senate To Revisit Bill On FCE Dass
The Concern People’s Forum of Dass Bauchi South senatorial district has called on the Senate under the leadership of Sen...
APC Chieftain Urges Gov Obaseki To Avoid Zamfara, Rivers Mistake
Following the crisis rocking the All Progressives Congress (APC) in Edo State, a chieftain of the party, Mallam Garus Gololo,...
Others13 hours ago
Kogi Gov’ship: Melaye Appoints Campaign D-G
SPORTS15 hours ago
Why I Visited Cosgrove – Ahmed Musa
NEWS15 hours ago
Unrealistic Demands Delay Implementation Of New Minimum Wage- HoS
LAW19 hours ago
“I Am Authorised By Fiat To Conclude Trial Of Orji Kalu”- Judge
NEWS22 hours ago
Breaking: Supreme Court Refuses To Upturn Judgment On Zamfara Elections
NEWS15 hours ago
PMB Summons IGP Over Shittes Protest
NEWS13 hours ago
Police Takeover Investigation Of Rape Allegation Against Fatoyinbo
NEWS14 hours ago
Zamfara: PDP Hails Supreme Court’s Refusal To Reverse Self