Stock market appreciates with investors gaining N15bn

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Factual Pursuit of Truth for Progress

By Francis Ogwo

There has been a gain of N15bn for investors in Nigeria’s stock market for Monday with a recorded price appreciation by 18 firms at the close of trading.

The Nigerian Stock Exchange All-Share Index and market capitalisation rose by 0.12 per cent with the market breadth, however, closing negative as 18 gainers emerged, as against 29 losers.

The ASI rose by 233.66 basis points from 24,829.02bps last Friday to 24,858.89 on Monday while the market capitalisation of equities increased to N12.97tn from N12.95tn.

The premium subsector dominated in volume with 46.72 million shares traded in 1,299 deals on the activity chart. This was boosted by the activities in the shares of FBN Holdings Plc and Zenith Bank Plc.

The insurance subsector was boosted by the activities in the shares of LASACO Assurance Plc and Mutual Benefits Assurance Plc, with 27.83 million units traded in 185 deals.

A total of 158.72 million shares in 3,940 deals was traded by investors on Monday.

Cutix Plc, Okumo Oil Palm Plc and Regency Alliance Insurance Plc led the gainers with 10 per cent each to close at N1.76, N70.40 and 22 kobo per share respectively.

Neimeth International Pharmaceuticals Plc followed with a gain of 9.49 per cent to close at N1.50 per share, while Wapic Insurance Plc appreciated by 9.38 per cent to close at 35 kobo per share.

Unilever Nigeria Plc however led the losers’ table with a drop of 10 per cent to close at N15.30 per share.

Ardova Plc, formerly Forte Oil Plc, followed with a loss of 9.96 per cent to close at N11.75 per share while Chellarams Plc dropped by 9.71 per cent to close at N2.51 per share

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