Modupe Gbadeyanka
By Modupe Gbadeyanka
Transactions on the floor of the Nigerian Stock Exchange (NSE) on the first day after the 2019 presidential and parliamentary elections ended on a positive note.
Investors came to the market on Monday expecting to get a clue of who will likely emerge winner of the keenly contested polls.
As Nigerians await results of the exercise, investors at the market embarked on bargain hunting, hoping to selloff when the coast is clear.
At the close of business today, the market appreciated by 0.57 percent to reverse the losses posted last Friday.
While the All-Share Index (ASI) increased by 184.60 points to close at 32,700.12 points, the market capitalisation went up by N68 billion to end at N12.194 trillion.
Business Post reports that the gains recorded by the local exchange on Monday was influenced mainly by the positive performances of stocks in the banking, insurance and oil and gas sectors, closing 0.48 percent, 0.68 percent and 0.89 percent higher respectively.
However, the consumer goods sector fell by 0.81 percent, while the industrial industry declined by 0.16 percent.
At the market today, a total of 25 stocks appreciated in value compared with the 8 counters that finished on the losers’ chart.
Nigerian Breweries emerged the highest price gainer at the stock market today, appreciating in value by N3.20k to finish at N83.20k per share.
It was followed by Mobil Oil Nigeria, which rose by N2 to end at N180 per share, and Dangote Flour, which increased its value by N1 to settle at N11.05k per share.
NASCON garnered 65 kobo today to quote at N18.90k per share, while Dangote Sugar increased by 50 kobo to end at N15.50k per share.
On the flip side, Total Nigeria suffered the heaviest loss with N5 of its share price lost to close at N190 per share, with Flour Mills declining by 20 kobo to close at N20 per share.
The trio of PZ, FBN Holdings and Access Bank lost 5 kobo each to finish at N12.30k per share, N8.30k per share and N6.35k per share apiece.
The level of activity at the market was mixed on Monday with the volume of shares going down by 0.75 percent, while the value of transacted equities appreciated by 147.67 percent.
A total of 219.8 million units of stocks exchanged hands today compared with the 221.5 million units sold the previous session, while the value of stocks traded on Monday was N5.6 billion versus N2.2 billion last Friday.
Nigerian Breweries was the darling of investors today, recording a turnover of 42.7 million units sold for N3.6 billion.
Diamond Bank exchanged 30.8 million shares worth N75.5 million, while Access Bank traded 20.7 million units for N131.4 million.
GTBank transacted 19.2 million shares worth N733.9 million, while FCMB traded 15 million equities valued at N34.4 million.
