Stock Market Gains N46bn On Blue Chip Firms

Equity trading on the floor of the Nigerian Stock Exchange on Monday closed on the positive note with a gain of N46bn as the bulls regained grip on trading activities.

The market performance indices, NSE ASI, appreciated by 0.21 per cent with market breathe, however, closing negative with 19 gainers against 30 losers.

Consequently, the All-Share Index grew by 86.97 basis points or 0.21 per cent from 41,001.99 index points last Friday to 41,088.96 while the market capitalisation of equities appreciated by N46bn to close at N21.49tn from N21.45tn.

On the activity chart, the banking sub-sector dominated in volume terms with 64.12m shares exchanged in 938 deals. The sub-sector was enhanced by the activities in the shares of Fidelity Bank Plc and Union Bank Plc.

Diversified industries sub-sector boosted by the activities in the shares of Transcorp Plc and UACN Plc followed with 58.18m units traded in 348 deals.

In all, investors exchanged a total of 333.09m shares exchanged in 5,640 deals.

Further analysis of the day’s trading showed that Academy Press Plc led the gainers with 10 per cent to close at 44 kobo per share while May and Baker Plc followed with 9.86 per cent to close at N4.01 per share and MRS Plc with a gain of 9.82 per cent to close at N12.30 per share.

On the flip side, C and I Leasing Plc and Royal Exchange Plc led the losers’ chart with a drop of 10 per cent each to close at N5.13 and 36 kobo per share respectively. ARDOVA Plc followed with a loss of 9.78 per cent to close at N18.45 per share while Japaul Gold Plc dropped by 9.47 per cent to close at 86 kobo per share.