Stock market begins week bullish with N93bn gain

Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday commenced the week on a positive track as the overall market performance indices firmed up with a gain of 0.71 per cent.

Transactions on the stock market had last Friday recorded a decline to close on the red territory following depreciable demand by investors on sustained market apathy.

Consequently, the All-Share Index gained 190.6 basis points or 0.71 per cent to close at 27,115.89 index points as against 26.925.29 recorded last Friday while the market capitalisation closed from N13.121 trillion at the weekend to N13.214 trillion.

Meanwhile, a turnover of 250.7 million shares exchanged in 4116 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 128.8 million shares exchanged by investors in 1,541 deals.

Volume in the sub-sector was largely driven by the activities in the shares of Lafarge Africa Plc and UBA Plc.

The banking sub-sector, boosted by the activities in the shares of Fidelity Bank Plc and ETI Plc, followed with a turnover of 41.9 million shares in 901 deals.

The number of gainers at the close of trading session was 20 while decliners closed at 13.

Further analysis of the day’s trading showed that Courtville Business Solutions Plc topped the gainers’ table with 10 per cent to close at 22 kobo per share respectively while UACN Plc followed with 6.67 per cent to close at N4.80 per share and FCMB Plc with a gain of five per cent to close at N1.68 per share.

On the flip side, Cadbury Nigeria Plc led the losers’ chart with a drop of 9.71 per cent to close at N9.30 per share. Chams Plc followed with a loss of 8.70 per cent each to close at 21 kobo per share while Unity Bank Plc dropped by 5.80 per cent to close at 65 kobo per share.



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