Local equities market begins week with 0.72 per cent gain

Bullish sentiments persist at the Nigerian Stock Exchange (NSE), as the local bourse started the new week with 0.72 per cent increase in its All Share Index (ASI) to record the seventh consecutive growth.

Specifically, the ASI closed equities market at 26,507.84 basis points amid interest in the stocks of MTN Nigeria, WAPCO and FBN Holdings as they appreciated by two per cent, 6.3 per cent and 3.9 per cent respectively.

Consequently, the Month-to-Date gain increased to 4.7 per cent while the Year-to-Date loss moderated to -1.3 per cent, just as the equities market capitalisation was capped at N13.85 trillion. The Exchange recorded 19 gainers as against eight losers at the close of the trading session.

Similarly, performance across sub-sector gauges tracked closed in positive territory: the NSE Banking, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Industrial indices rose by 0.26 per cent, 1.82 per cent, 0.53 per cent, 1.33 per cent and 0.53 per cent respectively.

Meanwhile, the total volume of stocks traded rose by 0.32 per cent to 0.33 billion units; however, the value of stocks traded moderated by 5.80 per cent to N4.03 billion, exchanged in 4,602 deals. Zenith Bank stocks were the toast of investors on Monday as it was the most traded stock by volume and value at 89.51 million units and N1.55 billion, respectively.


Labour Suspends Today’s Strike

THE organised labour in the early hours of Monday announced a suspension of its strike slated to start today over prices of fuel and electricity.

The suspension of the strike action was contained in a communique it signed with representatives of government.

CROSSFIRE: Don’t Join Proposed Strike By Labour, FG Warns Civil Servants

The Federal Government has warned civil servants not to obey the call for industrial action by labour unions.

CROSSFIRE: No Going Back On Nationwide Strike — Labour

DESPITE court restriction, the total shutdown of government offices and all business activities is imminent as the industrial strike and a nationwide protest declared by the organised labour over the increase in the prices of fuel and electricity tariff commences early Monday morning.

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