Nigerian Stocks Open Week With Marginal 0.02% Growth

By Modupe Gbadeyanka

The Nigerian equities market closed on a positive note on Monday, though with a marginal growth of 0.02 percent against the 0.74 percent gain of the last trading session on Friday.

At the close of market activities, the year-to-date return expanded to 11.34 percent. However, the market breadth finished negative with 21 price risers and 26 price fallers.

The All-Share Index (ASI) slightly increased by 8.59 points to settle at 42,579.48 points, while the market capitalisation garnered N3.08 billion to close at N15.280 trillion.

On the price movement chart, International Breweries emerged the highest price gainer, growing by N2.85k to close at N59.85k per share.

PZ Cussons followed with N1.15k gain to finish at N24.15k per share, and NASCON appreciated by N1.5k to settle at N21.60k per share.

GTBank rose by 75k yesterday to end at N49.35k per share, while Red Star Express improved by 30k to close at N6.30k per share.

On the flip side, it was a very bad day for the oil stocks with Seplat emerging the biggest price loser, with N13.70k of its value lost at the close of market on Monday to settle at N671.40k per share.

Total Plc declined by N11 to close at N217 per share, while Mobil depreciated by N9.50k to finish at N180.50k per share.

Dangote Cement fell by N1 to end at N259 per share, while UBA went down by 45k to finish at N12.50k per share.

Business Post reports that at the close of transactions on Monday, the volume of equities transacted increased, while the value depreciated.

A total of 384.9 million shares worth N5.5 billion were traded in 4,774 deals compared with 308.4 million equities exchanged in 4,356 deals valued at N6.4 billion.

The Financial Services sector topped the activity chart with 175.3 million shares sold for N1.5 billion, while the Industrial Goods sector followed with 138.2 million equities transacted for N2.8 billion.

CCNN was the busiest stock on the floor of the Nigerian Stock Exchange (NSE), exchanging 134.9 million shares worth N2.3 billion.

It was trailed by Transcorp, which sold 34.2 million units for N71 million, and FBN Holdings, which traded 21.8 million shares valued at N250 million.

Access Bank transacted 20.6 million shares worth N270 million yesterday, while Fidelity Bank exchanged 20.5 million equities valued at NN61.3 million.