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Stock market extends gain with N66bn

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Stock market extends gain with N66bn

Nigerian stocks sustained its positive outlook for the second day as the overall performance measures, NSE ASI and market capitalisation, rose further by 0.52 per cent each to open the trading week on the positive path.

Consequently, the All-Share Index inched up by 192 basis points or 0.52 per cent to close at 37.312.28 index points as against 37,120.28 recorded the previous day, while market capitalisation of equities appreciated by N66 billion or 0.52 per cent to close higher at N12.913 trillion from N12.847 trillion. Meanwhile, a turnover of 336.3 million shares in 3,778 deals was recorded in the day’s trading.

Premium sub-sector was the most active (measured by turnover volume) with 211.5 million shares exchanged by investors in 1,005 deals. Volume in the sub-sector was largely driven by activities in the shares of Dangote Cement Plc and Zenith Bank Plc. Also, Banking sub-sector of the financial services segment, boosted by the activities in the shares of Fidelity Bank Plc and Diamond Bank Plc followed with a turnover of 51.5 million shares in 1,005 deals.

The number of gainers at the close of trading session was 16, while decliners closed at 24. Further analysis of the day’s trading showed that Forte Oil Plc topped the gainers’ table with 8.78 per cent to close at N47.97 per share, while Okumu Oil Plc trailed with 4.60 per cent to close at N67.99 per share, while NEM Insurance Plc tailed with a gain of 4.44 per cent to close at N1.41 per share.

On the flip side, C and I Leasing Plc led the losers’ chart with a drop of 4.79 per cent to close at N1.59 per share. Caverton Nigeria Plc followed with a loss of 4.76 per cent to close at N1.60 per share, while Vitafoam Plc dropped by 4.75 per cent to close at N2.81 per share.

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