Stock Market Opens Positive As Investors Gain N228bn

The Nigerian stock market opened the week on a positive note with the All Share Index  closing higher as the  capitalisation gained N228 billion at the close of business on Monday.

The All Share Index (ASI) had risen by 0.78 per cent or  419.9 absolute points, to close at 54,224.38 points. Accordingly, investors gained N228 billion in value as market capitalisation went up to N29.538 trillion.

The positive note in the market indicators was due to gains by heavy lifters on Monday as the 14 stocks that gained value had more impact than the 15 stocks that shrunk in share price.

Conoil led the pack of gainers as its share price rose by 9.93 per cent to close at N38.75 per share. It was followed by CWG  Johnholt, Livingtrust and TrippleG all of which saw thier share price appreciating by 9.88, 9.77, 9.57 and 9.55 per cents respectively.

CWG had closed the day selling at N0.89 as Johnholt and Livingtrust sold at N1.46 and N2.52 per share respectively.  TrippleG also closed Monday trading selling at N2.18 per share.

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On the other hand, CAP Hotel and Vitafoam led the losers’ chart by 9.42 amd 7.18  per cent each to close at N2.50 and N19.40  respectively, while the share price of Chams declined by 6.90 per cent to 27 kobo. NAHCO and ETI followed with a decline of 3.57  and 2.83 per cents to close at N8.10 and N12 per share respectively. 

Compared to trading activity las week Friday, the total volume traded on Monday went up by 46.21 per cent to 154.63 million shares, worth N5.50 billion, and traded in 3,095 deals. 

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 36.68 million shares valued at N923.67 million traded in 251 deals. Zenith Bank followed with 30.27 million shares worth N758.11 million, while AIICO Insurance traded 8.266 million shares valued at N4.95 million.