NGX: Oil stocks push market to fifth consecutive day gain

The Nigerian stock market opened the week on a bullish note as the share price of Eterna Oil and Oando rose further by 9.92 per cent and 9.90 per cent respectively.

This drove a 0.2 per cent increase in the All-Share Index to 48,558.91 basis points as the Month-to-Date and Year-to-Date gains settled at 3.4 per cent and 13.7 per cent, respectively.

Others stocks that buoyed the overall sentiment at the Nigerian Exchange Limited (NGX), on Monday, include, Nigerian Breweries, Unilever, Transcorp, Total and Wapco as their respective shares advanced by 9.9 per cent, 9.8 per cent, 9.8 per cent, 6.5 per cent and 5.3 per cent.

As measured by market breadth, market sentiment was positive as 42 tickers gained relative to 14 losers.

UPDCREIT and Ikeja Hotel recorded the most significant gains of the day having appreciated by 10.0 per cent and 9.9 per cent, while Unity Bank and Academy Press topped the losers’ list after their respective share lost six per cent respectively.

In line with the bullish market sentiment, the sub-sector gauges were largely positive-the NGX Banking Index, NGX Insurance Index , NGX Consumer Goods Index and the NGX Oil/ Gas rose by 0.34 per cent, 0.39 per cent, 2.45 per cent and 1.44 per cent respectively. However, the NGX Industrial Index was moderated by 1.10 per cent.

Meanwhile, market activity was mixed bag – as the volume of stock traded fell by 4.02 per cent to 328.39 million. However, the value of stocks traded increased by 4.4 per cent to N4.04 billion

Zenith Bank was the most traded stock by volume and value at 35.84 million units and N912.15 million, respectively.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

How Workplace Sexual Harassment Forces Many Out Of Their Dream Jobs

Despite several laws prohibiting sexual harassment in Nigeria, many victims are forced to quit their dream jobs while others suffer depression as a result of unsolicited sexual advances from colleagues. FAITH ADEOYE reports.

If you want to keep your job and excel in your career, you need to do as I say,” Janet Abegunde’s boss said to her one fateful day. Miss Abegunde, a 24-year-old accountant who had just gotten her first job in one of the new generation banks, said she fell into depression after her boss sexually harassed her.NGX: Oil stocks push market to fifth consecutive day gain

NGX: Oil stocks push market to fifth consecutive day gain