Equities market appreciates by N96bn, commences week positive
Starting the week, equities market of the Nigerian Exchange Limited (NGX) on Monday, extended gains from prior trading session as the All-Share Index closed 0.34 per cent stronger on renewed bargain hunting.
In summary, the All-Share Index (ASI) grew by 178.22 absolute points, representing a rise of 0.34 per cent, to close at 53,086.46 points. Similarly, the overall market capitalisation value gained N96 billion to close at N28.619 trillion.
The market’s positive performance was driven by price appreciation in large and medium capitalised stocks which are; MTN Nigeria Communications (MTNN), Conoil, Nigerian Exchange Group (NGXGroup), Julius Berger and Eterna.
The market breadth closed positive as 19 stocks gained relative to 13 stocks that declined.
Conoil recorded the highest price gain of 9.97 per cent to close at N32.00, per share. Pharma Deko Plc followed with a gain of 9.38 per cent to close at N1.75, while Learn Africa gained 8.72 per cent to close at N2.37, per share.
FTN Cocoa processors appreciated by 5.88 per cent to close at 36 kobo, while Chams gained 4.17 per cent to close at 25 kobo, per share.
On the other hand, Japaul Gold and Ventures led the losers’ chart by 6.25 per cent to close at 30 kobo, per share. Associated Bus Company followed with a decline of 6.06 per cent to close at 31 kobo, while Unilever Nigeria shed 3.01 per cent to close at N14.50, per share.
AIICO Insurance shed 2.94 per cent to close at 66 kobo, while Jaiz Bank depreciated by 2.22 per cent to close at 88 kobo, per share.
