Stock Market Gains N186bn 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 N186bn, following gains recorded by some blue-chip firms.

The market performance indices, NSE ASI, appreciated by 1.46 per cent with market breathe closing negative with 15 gainers as against 19 losers.

Consequently, the All-Share Index grew by 355.88 basis points or 1.46 per cent from 24,427.73 index points last Friday to 24,783.61 while the market capitalisation of equities appreciated by N186bn to close at N12.93tn from N12.74tn.

On the activity chart, the premium sub-sector dominated in volume terms with 62.34 million shares exchanged in 1,673 deals. The sub-sector was enhanced by the activities in the shares of FBNH Plc and Lafarge Cement Plc.

Banking sub-sector boosted by the activities in the shares of GTBank Plc and Unity Bank Plc followed with 26.32 million units traded in 850 deals.

In all, investors exchanged a total of 169.99million shares exchanged in 4,336 deals.

Further analysis of the day’s trading showed that Unity Bank Plc led the gainers with 9.62 per cent to close at 57 kobo per share while Wapco Plc followed with 9.59 per cent to close at N12.00 per share and GTBank Plc with a gain of 7.62 per cent to close at N2.30 per share.

On the flip side, AXA-Mansard Insurance Plc and UAC-Property Plc led the losers’ chart with a drop of 10 per cent each to close at N1.44 and 81 kobo per share, respectively.

Seplat Petroleum Plc followed with a loss of 9.99 per cent to close at N312.70 per share while Berger Paints Plc dropped by 9.84 per cent to close at N5.50 per share.