By Dipo Olowookere
The stock market in Nigeria appreciated by 3.96 per cent on Monday as a result of the renewed interest in equities by investors, who have been chased out of the fixed income market due to low yield environment.
At the close of transactions yesterday, the All-Share Index (ASI) increased by 1,226.88 points to 32,243.05 points from 31,016.17 points, while the market capitalisation grew by N641 billion to N16.848 trillion from N16.207 trillion.
During the session, the trading volume reduced slightly by 0.23 per cent to 636.0 million units from 637.5 million, while the trading value rose by 57.66 per cent to N8.2 billion from N5.2 billion, with the number of deals rising by 13.47 per cent to 7,210 deals from 6,354 deals.
Zenith Bank was the most active stock on Monday as it traded 70.2 million units worth N1.7 billion, while FBN Holdings transacted 67.7 million units valued at N474.6 million.
Access Bank exchanged 58.0 million shares valued at N500.2 million, UBA traded 48.5 million equities worth N410.4 million, Fidelity Bank 35.2 million stocks for N97.5 million.
On the price movement chart, Dangote Cement was the best-performer after its share price rose by N10.50 to close at N185 per unit.
MTN Nigeria gained N6.10 to settle at N150.10 per share, Lafarge Africa appreciated by N1.95 to finish at N21.45 per unit, BUA Cement grew by N1.90 to end at N44.90 per unit, while GTBank increased by N1.75 to trade at N35.25 per share.
On the losers’ chart, Conoil claimed the top spot after depreciating by N1.20 to sell at N17.85 per share, while NCR Nigeria lost 20 kobo to close at N1.80 per unit.
PZ Cussons declined by 15 kobo to close at N4.65 per share, Learn Africa declined by 10 kobo to end at N1.05 per unit, while Africa Prudential depreciated by 9 kobo to N6.11 per share.
