Stock Market Begins Week Positive, Gains N113b

March 5, 2019
Stock Market Newspaper

By Modupe Gbadeyanka

The first trading day of this new week started on a positive note on Monday with both the market capitalisation and the All-Share Index rising by 0.95 percent.

This has lifted the spirits of investors at the local bourses as Nigerians head to the polls again this weekend to choose Governors and members of state parliaments for another term of four years.

At the close of transactions yesterday, the market capitalisation appreciated by N113 billion to settle at N11.981 trillion against N11.868 trillion on Friday, while the ASI increased by 302.70 points to finish at 32,129.94 points in contrast to 31,827.24 points it ended last Friday.

Business Post reports that despite the market closing in the green territory, the volume of shares transacted by investors depreciated by 33.18 percent just as the value of the stocks traded reduced by 30.40 percent.

A total of 228.4 million shares worth N2.6 billion were bought and sold in 3,544 deals on Monday compared with the 342 million equities valued at N3.8 billion exchanged in 4,513 deals last Friday.

A further analysis of the activity chart revealed that Diamond Bank was the most active stock, exchanging 33 million shares worth N82.1 million.

It was followed by UBA, which sold 31.1 million units worth N239.1 million, and Zenith Bank, which exchanged 28.9 million equities worth N703.1 million.

Access Bank traded 21 million shares valued at N124.2 million, while Transcorp transacted 17 million equities for N21.4 million.

Topping the gainers’ table yesterday was International Breweries, which added N2 to its share value to close at N27 per share.

GTBank appreciated by N1.70k to settle at N37.20k per unit, while Zenith Bank garnered 55 kobo to quote at N24.50k per share.

Dangote Flour increased its share price by 50 kobo to finish at N10.40k per unit, while Dangote Cement improved by 40 kobo to end at N197 per unit.

On the flip side, the losers’ chart was occupied by PZ Cussons, going down by N1.30k to close at N12.15k per share.

Claiming the second spot was UAC of Nigeria with a loss of 25 kobo to end at N8.25k per share, while Dangote Sugar took the third position with the shedding of 15 kobo to close at N14.50k per unit.

The fourth spot was clinched by United Capital, which went down by 10 kobo to close at N3.25k per share, while the fifth place was grabbed by GlaxoSmithKline, which dropped 10 kobo to close at N11.90k per share.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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