Equity market gains N42bn as week begins

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Factual Pursuit of Truth for Progress

 

By Francis Ogwo

Activities at the Nigerian equity market on Monday maintained a positive outlook with the ASI, NSE and other performance measures showing a rise of 0.28% of market capitalisation.

There was a positive closure of the market breath with 27 gainers against 15 decliners.

The week also saw the All-Share Index growing by 80.91 basis points or 0.28 per cent from 28,697.06 index points last Friday to 28,777.96 while the market capitalisation of equities rose by N42bn to close at N15.04tn from N14.99tn.

The premium sub-sector on the activity chart dominated in volume terms with 119.44 million shares exchanged in 1,538 deals. This was also with the sub-sector enhanced by the activities in the shares of UBA Plc and Zenith Bank Plc.

The banking sub-sector boosted by the activities in the shares of GTB Plc and Ecobank Plc followed with 80.91 million units traded in 691 deals.

In all, investors exchanged a total of 340.80 million shares exchanged in 4,235 deals.

Further analysis of the day’s trading showed that Custodian and Allied Investment Plc led the gainers with 10 per cent at N5.50 per share while NPF MFB Plc followed with 9.70 per cent to close at N1.47 per share and e-Transact Plc with a gain of 7.73 per cent to close at N1.75 per share.

On the losers table, Morison Plc led the chart as it dropped by 10 per cent to close at 54 kobo per share.

This was closely followed by CHI Plc which lost 8.82 per cent to close at 31 kobo per share while Nascon Plc closed at N13.10 per share after dropping by 8.39 per cent.

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