Equities market begins week with 0.58% increase

The Nigerian equities market continued from Friday’s positive path with lead indicator of the Nigerian Stock Exchange (NSE); the All Share Index (ASI) gaining 0.58 per cent.

The ASI specifically gained 161.74 points to close the day at 27,812.06 points compared to 229.33 points gained last Friday to close at 27,650.32 points.

The Market Capitalization which is the total market value of all publicly quoted firms on the NSE gained N55.5 billion to close the day at N9.552 trillion compared to N78.8 billion gained in previous session when it closed at N9.496 trillion.

Nestle Nigeria Plc led the day’s advancing stocks with a growth of N9.99 to close at N835 per share, Seplat Petroleum Plc added N5 to close at N245 per share, Nigerian Breweries Plc improved by N1.99 to close at N140 per share. Forte Oil Plc gained N1.90 to close at N162 per share and International Breweries Plc appreciated by 61 kobo to close at N19 per share.

The appreciation recorded in these share prices amongst 15 others stocks were responsible for the growth recorded in the market indicators, trimming the year to date losses to -2.90 per cent.

7up Plc led the days retreating stocks having dropped by N5.28 to close at N109.17 per share, ETI Plc lost 31 kobo to close at N11.19 per share, Dangote Flour Plc fell 15 kobo to close at N4 per share, Africa Prudential Registrars Plc declined by five kobo to settle at N2.64 per share, and Livestock Feeds Plc depreciated by four kobo to close at 89 kobo per share.

The total value of stocks traded on the floors of The NSE on Monday amounted to N2.83 billion, while a total of 216.2 million shares exchanged hands in 3,316 deals.

The top three traded stocks were: FBN Holdings Plc with the sale of 58.6 million shares worth N184.1 million, ACCESS Bank Plc traded 40.9 million stocks valued at N239.4 million and GUARANTY Trust Bank Plc exchanged 30.7 million stocks worth N785.5 million.