NSE Trading Indices Consolidate Gains by 1.38%

By Dipo Olowookere

Transactions on the Nigerian Stock Exchange (NSE) continued to be bullish on Monday. By the time the market closed for the day, the main indices appreciated further by 1.38 percent.

The market capitalisation increased by N179 billion to close at N13.199 trillion, while the All-Share Index (ASI) appreciated by 370.89 points to settle at 27,339.68 points.

Gains posted by Dangote Cement boosted the overall market performance yesterday as stocks of the cement firm increased by N4 to finished at N146 per share.

Flour Mills appreciated by N1.25 to settle at N21 per unit, NASCON rose by N1 to end at N13.95 per share, GTBank improved by 90 kobo to finish at N31 per share, while Dangote Sugar jumped by 85 kobo to trade at N15.05 per unit.

At the other side, Seplat emerged as the worst performing stock, with a price depreciation of N2.60 to finish at N589.50 per unit, while MTN Nigeria trailed with a loss of N1 to trade at N108 per share.

Unilver Nigeria went down by 70 kobo to close at N20 per unit, PZ Cussons depreciated by 55 kobo to end at N5.10 per share, while Union Bank fell by 30 kobo to close at N5.70 per unit.

Business Post reports that the activity level was mixed on Monday just like in the previous session. At the close of business, the volume of transactions by investors reduced by 14.52 percent to 520.4 million from 608.9 million, while the value rose by 42.26 percent to N5.4 billion from N3.8 billion.

Zenith Bank emerged as the most active stock at the market during the session, trading a total of 97.1 million units of its shares worth N1.9 billion, while Universal Insurance sold a total of 70 million stocks worth N14.0 million.

UBA traded 62.7 million shares valued at N497.7 million, FCMB transacted 54.9 million equities for N110.0 million, while FBN Holdings exchanged 26.4 million shares for N182.7 million.