NSE Index Rebound by 0.45% as Services Stocks Lead Activity Chart

By Dipo Olowookere

Major market indices at the local bourse pointed north on Monday, reversing the disappointing finish last Friday.

At the close of transactions today, the Nigerian Stock Exchange (NSE) ended 0.45 percent higher as a result of gains recorded by stocks in the banking space.

The All-Share Index (ASI) went up by 175.09 points to close at 38,844.32 points, while the market capitalisation grew by N63.4 billion to settle at N14.071 billion.

Business Post reports that there was a huge demand in a stock in the Services sector of the market, emerging the most active sector at the close of business.

A total of 282.6 million shares valued at N712 million in the Services sector were sold on Monday, while the 254.4 million equities in the Financial Services worth N1.8 billion exchanged hands.

Ikeja Hotels topped the activity chart with 279.6 million shares worth N705 million traded by investors at the market today.

It was followed by UCAP, which sold 79.1 million equities worth N254 million, and Africa Prudential, which exchanged 56.8 million shares valued at N242.9 million.

Dangote Sugar traded 32.5 million equities worth N641.9 million, while Access Bank transacted 22.4 million shares for N241.1 million.

In all, a total of 603.2 million shares exchanged hands on Monday in 3,832 deals worth N3.9 billion against the 210 million equities sold last Friday in 4,141 deals valued at N3.9 billion.

The market breadth finished positive today with 32 appreciating stocks and 21 depreciating equities recorded at the market.

It was a good day for Presco as its shares went up by N3.35k to finish the day at N73.70k per share.

NASCON followed with N1.60k added to its share value to settle at N24 per share, and Nigerian Breweries, which increased by N1 to end at N118 per share.

Flour Mills garnered 60 kobo to close at N33 per share, while GTBank appreciated by 45 kobo to settle at N41.60k per share.

Conversely, Lafarge emerged the heaviest price loser after losing 75 kobo to finish at N39.05k per share.

It was trailed by Berger Paints, which went down by 45 kobo to close at N8.55k per share, and Eterna, which declined by 31 kobo to end at N6.25k per share.

BOC Gas depreciated by 22 kobo to settle at N4.21k per share, while CCNN reduced by 10 kobo to close at N26.50k per share.