Stock Investors Gain N50bn As Market Capitalisation Rises

The Nigerian equity market on Monday sustained its positive outlook as the Nigerian Stock Exchange AlI-Share Index and market capitalisation rose further by 0.25 per cent.

However, the market breadth closed negative with 15 gainers against 20 decliners.

The ASI gained 62.61 basis points to close at 25,291.73bps as against 25.229.12bps recorded the previous day while the market capitalisation of equities appreciated by N33bn to close at N13.19tn from N13.16tn as market sentiment remained in the green zone.

Meanwhile, a turnover of 251.34 million shares traded in 3,713 deals was recorded in the day’s trading.

The premium subsector was the most active (measured by turnover volume), with 57.56 million shares traded by investors in 1,000 deals.

Volume in the subsector was largely driven by trading activities on the shares of Zenith Bank Plc and United Bank for Africa Plc.

Banking subsector was boosted by trading activities on the shares of Wema Bank Plc and Sterling Bank Plc, with a turnover of 32.58 million shares in 460 deals.

Nem Insurance Plc led the gainers’ table with a gain of 9.63 per cent to close at N2.05 per share while Wapic Insurance Plc appreciated by 6.25 per cent to close at 34 kobo per share. Japaul Oil Plc added 4.76 per cent to close at 22 kobo per share.

On the other hand, Beta Glass Plc led the losers’ table, dropping 9.99 per cent to close at N55.40 per share. May and Baker Nigeria Plc declined by 9.90 per cent to close at N2.73 per share while ARBICO Plc shed 9.52 per cent to close at N1.14 per share.