Nigeria’s stock market opens month in green

Nigerian equities market started the week, and invariably the month of March, on a positive territory.

The Nigerian Stock Exchange All-Share Index, on Monday, rose by 0.33 per cent to 39,931.63 points amid positive investors’ sentiment, following the declaration of earnings and dividend payouts by corporate entities.

Also, the market capitalisation advanced by 0.33 per cent to close at N20.89tn, which represented a gain of N68.93bn to investors.

Hence, the Year-to-Date loss of the ASI moderated to -0.84 per cent.

At the close of Monday’s trading, the market recorded 27 losers and 12 gainers, as more of large capitalised stocks increased in value.

Specifically, the share prices of BUA Cement, UAC of Nigeria, United Bank for Africa and Zenith Bank advanced by 3.82 per cent, 6.67 per cent, 2.45 per cent and 1.38 per cent respectively amid buy pressure.

On sectorial performance, three out of the five indices tracked closed in the red.

The insurance, consumer goods and industrial indices fell by 1.10 per cent, 0.48 per cent and 0.10 per cent, while banking and industrial indices rose by 0.25 per cent and 1.47 per cent.

Trading activity was mixed. While total deals and volume of stocks traded rose, total value of stocks fell.

Thus, at the close of trading activity, the total volume of stocks rose by 7.24 per cent to 543.98 million units, valued at N1.89bn in 4,673 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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