Stocks Reverse Losses, Investors Gain N122bn

investors gained N122bn on Monday as the nation’s stock market reversed the losses it recorded last week.

The Nigerian Stock Exchange All-Share Index appreciated by 0.93 per cent as 31 firms recorded price appreciation.

The ASI increased by 233.66 basis points from 25,016.30 last Friday to 25,249.96 while the market capitalisation of equities appreciated by N122bn to close at N13.05tn from N11.17tn.

On the activity chart, the premium sub-sector dominated with 82.71 million shares traded in 1,617 deals, buoyed by activities in the shares of FBN Holdings Plc and the United Bank for Africa Plc.

The banking sub-sector was boosted by activities in the shares of Guaranty Trust Bank Plc and Jaiz Bank Plc.

A total of 230.49 million shares were traded in 4,621 deals on Monday.

Wapic Insurance Plc led the gainers with 10 per cent to close at 33 kobo per share.

Fidson Healthcare Plc followed with a gain of 9.80 per cent to close at N3.25 per share, while ABC Transport Plc rose by 9.76 per cent to close at 45 kobo per share.

Japaul Oil & Maritime Services Plc led the losers’ table as its share price dropped by 10 per cent to close at 27 kobo.

Cornerstone Insurance Plc followed with a loss of 9.09 per cent to close at 50 kobo per share while Chams Plc fell by 7.41 per cent to close at 25 kobo per share.