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Stock investors record N81bn gain

by editor

Gains recorded by MTN Nigeria, Nigerian Exchange Group, and others lifted the stock market by N81bn at the close of trading on the floor of the Nigerian equity market on Monday.

This bullish trend extended the gains recorded by stock investors in the previous week.

As a result, the market capitalisation closed stronger as buying interests in MTN Nigeria Communications Plc and Nigerian Exchange Group, Industrial & Medical Gases Nigeria, United Capital, Lafarge Africa, Oando other stocks scaled up.

Expectedly, the All Share Index rose by 154.65 absolute points, representing a gain of 0.29 per cent to close at 53,157.83 points.

Accordingly, investors gained N81bn in value as market capitalisation hit N29.609tn.

As measured by market breadth, market sentiment was mixed, as 16 stocks advanced and 16 others declined.

Sovereign Trust Insurance recorded the highest price gain of 10 per cent to close at 33 kobo, per share.

Linkage Assurance followed with a gain of 8.89 per cent to close at 49kobo, while International Energy Insurance rose by 8.08 per cent to close at N1.07, per share.

Industrial & Medical Gases Nigeria went up by 4.55 per cent to close at N8.05, while Courteville Business Solutions appreciated by 4.08 per cent to close at N0.51 kobo, per share.

On the other hand, McNichols Plc led the losers’ log by 8.96 per cent to close at N0.61 kobo, while Prestige Assurance followed with a decline of 8.70 per cent to close at N0.42 kobo, per share.

FTN Cocoa processors lost 6.06 per cent to close at 31 kobo, while SUNU Assurance and Japaul Gold & Ventures shed 5.88 per cent each to close at N0.32 kobo each respectively, per share.

The total volume traded declined by 28.5 per cent to 191.636 million units, valued at N4.799bn, and exchanged in 4,359 deals.

Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 50.585 million shares valued at N1.271bn.

Zenith Bank followed with 18.017 million shares worth N452.440m, while Chams Holding Company traded 16.628 million shares valued at N4.451m.

United Bank for Africa traded 14.935 million shares valued at N125.390m, while Transnational Corporation of Nigeria transacted 14.171 million shares worth N18.790m.


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