Okomu Oil, others lift Nigerian’s equities market by N805bn 

The Nigerian equities market on Monday started the week on surge investors demand for Okomu Oil Plc, to extend its winning streak to the fourth consecutive trading session with a gain of N805 billion.

The All Share Index (ASI) gained by 1,273.79 basis points or  0.65 per cent to close at 196,263.56 basis  points. Also, market capitalisation up by N805 billion to close at N125.969 trillion.

Market breadth was slightly bearish, with 34 declining stocks marginally outpacing 33 advancing counters. 

Okomu Oil and Fortis Global Insurance recorded the highest price gain of 10 per cent each to close at N1, 605.60 and 66 kobo respectively, while Fidson Healthcare followed with a gain of 9.90 per cent to close at N95.50, per share.

NPF Microfinance Bank rose by 9.89 per cent to close at N6.89, while Infinity Trust Mortgage Bank appreciated by 9.84 per cent to close at N17.30, per share.

On the other hand, The Initiates Plc (TIP) led the losers’ chart by 10 per cent to close at N17.55, while DEAP Capital Management & Trust followed with a decline of 9.97 per cent to close at N6.86, per share.

Multiverse Mining & Exploration and LivingTrust Mortgage Bank depreciated by 9.92 per cent each to close at N22.70 and N5.90 respectively, while Ellah Lakes  declined by 9.77 per cent to close at N11.55, per share.

Also, the total volume traded rose by 57.07 per cent to 1.289 billion units, valued at N31.500 billion, and exchanged in 95,091 deals. Transactions in the shares of Japaul Gold & Venture topped the activity chart with 473.982 million shares valued at N1.970 billion. Chams Holding Company followed with 51.525 million shares worth N221.262 million, while Jaiz Bank traded 48.274 million shares valued at N566.895 million.

Secure Electronic Technology traded 46.339 million shares valued at N68.762 million, while Mutual Benefits Assurance transacted 42.450 million shares worth N242.503 million.