Trading in the domestic stock market yesterday carried on last week’s bullish performance with a gain of N14 billion, 0.05 per cent on investors’ interest in Eterna and 22 others.
The All Share Index (ASI) increased by 21.88 absolute points, representing a growth of 0.05 per cent to close at 40,243.05 points. Similarly, the market capitalisation gained N14 billion to close at N20.970 trillion.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which were; Eterna, United Capital, AXA Mansard Insurance, Pharm-Deko and FBN Holdings (FBNH).
On market performance this week, United Capital Plc expects some profit taking on the bourse amid last week’s rally.
Consequently, the market breadth closed positive, recording 23 gainers as against 14 losers. AXA Mansard Insurance recorded the highest price gain of 9.87 per cent, to close at N2.56, per share. Pharm-Deko followed with a gain 9.79 per cent to close at N2.58, while University Press appreciated by 9.76 per cent to close at N1.35, per share.
Consolidated Hallmark Insurance went up by 8.77 per cent to close at 62 kobo, while Courteville Business Solutions appreciated by 8.57 per cent to close at 38 kobo per share.
On the other hand, Morison Industries led the losers’ chart by 10 per cent to close at N1.89, per share. Northern Nigeria Flour Mills (NNFM) followed with a decline of 9.94 per cent to close at N7.70, while Veritas Kapital Assurance shed 8.70 per cent to close at 21 kobo, per share.
Cornerstone Insurance shed 8.62 per cent to close at 53 kobo while Jaiz Bank depreciated by five per cent to close at 57 kobo, respectively.