Investors Gain N15bn As Stock Market Rises

Investors in the nation’s stock market gained N15bn on Monday as 18 firms recorded price appreciation at the end of trading.

The Nigerian Stock Exchange All-Share Index and market capitalisation rose by 0.12 per cent.

The market breadth, however, closed negative as 18 gainers emerged, as against 29 losers.

The ASI grew 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.

On the activity chart, the premium subsector dominated in volume with 46.72 million shares traded in 1,299 deals. The subsector was enhanced 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.

Investors traded a total of 158.72 million shares in 3,940 deals 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.

On the other hand, Unilever Nigeria Plc 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.