Bulls hold sway as Nigerian stock extends by 0.05%

The Nigerian stock market maintained a bullish run on Monday to record seven straight gains.

The All-Share Index advanced by 0.05 per cent to close at 39,319.75 points, while the market capitalisation which opened for N20.57, closed at N20.58, leaving investors with a gain of N8.74 amid sustained positive sentiment.

While the year-to-date loss of the ASI lowered to -2.36 per cent, 25 stocks gained against 17 stocks that moderated.

Medium and large capitalised stocks were the toss of investors, hence the share prices of Nigerian Breweries, Lafarge Africa, Guaranty Trust Bank, Fidson Healthcare and Lasaco Assurance increased by 1.56 per cent, 1.12 per cent, 0.32 per cent, 9.09 per cent and 7.14 per cent respectively.

Sectoral performance was however bearish as three out of the five indices tracked closed in the red zone.

The banking, consumer goods and oil indices fell by 0.07 per cent, 0.01 per cent and 0.34 per cent respectively, while the insurance and industrial indices rose by 2.22 per cent and 0.07 per cent.

Trading activity was weak as total deals, volume and value of stocks traded also declined. The total volume of stocks dropped by 28.18 per cent to 200.17 million units, valued at N1.14bn in 2,813 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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