Nigerian stock market gains 0.71% to start week bullish

Trading activity at the floor of the Nigerian Stock Exchange opened on a bullish note on Monday, as the All-Share Index advanced by 0.71 per cent to close at 39,493.37 basis points.

Following renewed interest in heavy-weight stocks, the market capitalisation, which opened at N20.52tn, closed at N20.67tn, even as 20 stocks traded up against 12 that declined.

At the close of Monday’s trading, investors gained N145.03bn, while the year-to-date loss of the ASI moderated to -1.93 per cent.

Amid buy pressure, bellwethers such as MTN Nigeria Communications, Guaranty Trust Bank, Zenith Bank and Lafarge Africa increased by 3.13 per cent, 4.28 per cent, 0.23 per cent and 2.56 per cent respectively.

Sectoral performance was positive, as three of the five indices tracked closed in the green zone.

The banking, insurance and consumer goods indices rose by 2.08 per cent, 0.56 per cent and 0.19 per cent respectively, while the oil and gas and industrial indices fell by 0.50 per cent and 0.07 per cent respectively.

Trading activity was upbeat as total deals, volume and value of stocks traded in the green territory.

At the close of Monday’s trading, the total volume of trade doubled by 108.10 per cent to 522.17 million units valued at N10.65bn in 4,566 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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