Equities investors rake N34.6bn on bullish trade

EQUITIES trading on the trading floor of the Nigerian Stock Exchange (NSE) resume activities of the week with 0.27 per cent bullish movement as major market indicators showed green.

Specifically, at the close of transactions Monday, the sum of N34.6 billion was added to the market capitalisation as it settles at N12.93 trillion, while the All-Share Index (ASI) increased by 100.23 points to finish at 37,525.38 points, thus leaving the year-to-date return at +39.63 per cent.

However, market breadth closed negative with 22 gainers against 27 losers, just as volume and value shares transacted on the floor of the NSE finished lower with investors exchanging 254.5 million shares in 4,600 deals worth N5.8 billion compared with 515.5 million units sold last Friday in 4,132 deals valued at N6.3 billion.

For the most traded stocks, Access Bank led as it closed trade having sold 46.3 million shares worth N464.5 million.

It was trailed by Zenith Bank, which exchanged 29.6 million shares at N746.2 million, and GTBank, which transacted 25.5 million shares at one billion naira.

United Bank for Africa sold 16 million shares worth N154.7 million, while FBN Holdings moved 14.3 million shares worth N89.6 million.

However, Nestle was today’s top market gainer, continuing its upward movement, increasing by N33.58k to settle at N1060 per share.

Nigerian Breweries followed as its shares grew by N5.35 kobo to close at N181 per share, and Mobil, which rose by N4.90 kobo to end at N236.90 kobo per share.

Also, 7up advanced by N2.70 kobo to finish at N94.70 kobo per share, while Lafarge progressed by one naira to settle at N60 per share.

On the flip side, Okomu Oil depreciated by N2.23 kobo to close at N70 per share, while Dangote Cement fell by N1.21k to end at N240.79 kobo per share.

Furthermore, Unilever crashed by 90k to finish at N40.10 kobo per share, Forte Oil slumped by 83k to close at N59.54 kobo per share, and UACN tripped by 55 kobo to settle at N16.95 kobo per share.