Stock Market Extends Gain With N334bn

Nigerian equity market on Monday sustained its positive outlook as the overall performance measures, NSE ASI and market capitalisation rose further by1.73 per cent.

However, market breadth closed flat with 23 gainers against 23 decliners.

Consequently, the All-Share Index grew by 638.65 basis points or 1.73 per cent from 36,804.75 index points last Friday to 37,443.40.

The market capitalisation of equities appreciated by N334bn to close at N19.57tn from N19.24tn.

On the activity chart, the insurance sub-sector dominated in volume terms as 153.47 million shares exchanged in 766 deals.

The sub-sector was enhanced by the activities in the shares of AIICO Insurance Plc and AXA-Mansard Plc.

The premium sub-sector boosted by the activities in the shares of UBA Plc and Zenith Bank Plc followed with 61.84 million units traded in 1,770 deals.

In all, investors exchanged a total of 427.06 million shares in 5,263 deals.

Further analyses of the day’s trading showed that BOC Gases Plc led the gainers with 10 per cent to close at N7.92 per share while Dangote Cement Plc followed with 9.98 per cent to close at N230.40 per share and Oando Plc with a gain of 9.87 per cent to close at N3.45 per share.

On the flip side, Eterna Plc led the losers’ chart with a drop of 9.89 per cent to close at N4.10 per share.

Tranex Plc followed with a loss of 9.20 per cent to close at 79 kobo per share while Chams Plc dropped by 8.70 per cent to close at 21 kobo per share.