Stock Market Extends Gains With N9bn

Trading activities on the equity market on Monday closed the month of August on a positive note.

The Nigerian Stock Exchange All-Share Index appreciated by 0.07 per cent, although the market breadth closed negative with 11 gainers against 17 losers.

The ASI grew by 17.76 basis points or 0.07 per cent from 25,309.37 last Friday to 25,327.13 while the market capitalisation of equities appreciated by N9bn to close at N13.21tn from N13.20tn.

On the activity chart, the premium subsector dominated in volume with 96.68 million shares traded in 1,374 deals. The subsector was enhanced by trading activities on the shares of Zenith Bank Plc and United Bank for Africa Plc.

The banking subsector was boosted by trading activities on the shares of Fidelity Bank Plc and Guaranty Trust Bank Plc, with 34.45 million units traded in 598 deals.

In all, investors exchanged a total of 302 million shares in 3,854 deals.

Further analysis of the day’s trading showed that 11 Plc (formerly Mobil Oil Nigeria Plc) led the gainers chart with 10 per cent to close at N192.50 per share.

FTN Cocoa Plc followed with 8.33 per cent to close at 26 kobo per share while Royal Exchange Plc gained 7.69 per cent to close at 28 kobo per share.

On the other hand, C&I Leasing Plc led the losers’ chart with a drop of 10 per cent to close at N3.60 per share.

UACN Property Development Company Plc followed with a loss of 7.61 per cent to close at 85 kobo per share while Red Star Express Plc dropped by 5.19 per cent to close at N3.65 per share.