Market resumes promising with 0.56% gain

The Nigerian equities market continued the gradual northward march of recent times as the All Share Index appreciated by 0.56 per cent to close at 24,827.50 basis points, compared with the 0.10 per cent appreciation recorded previously.

L – R: Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange (NSE); Simran Jidal; Elena Tarasenko and Aigboje Aig-Imoukhuede CON, President, NSE at the Closing Gong Ceremony of TRIUM Global Executive MBA at The Exchange in Lagos on Monday

Also Market Capitalisation appreciated by N47.4 billion to close at N8.54 trillion as against N8.49 trillion recorded at the close of trade on Friday.

Market breadth however closed negative as Cutix Plc led 13 gainers against 25 losers topped by Tiger Branded Consumers Plc, an improved performance when compared with previous outlook.

Market turnover closes negative as volume declined by 9.01 per cent against 24.80 per cent decline recorded in the previous session.

Meanwhile Fidelity Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc were the most active to boost market turnover.

Zenith Bank Plc and Guaranty Trust Bank Plc top market value list with N2.02 billion worth of shares.

C&I Leasing Plc however led the list of active stocks that recorded impressive volume spike at the end of Monday session having traded 100,000 volume of shares worth in two deals.

Trading in the top three equities included Guaranty Trust Bank Plc, FCMB Group Plc and Wema Bank Plc, when measured by volume, accounted for 667.292 million shares worth N4.256 billion in 2,114 deals, contributing 47.44 percent and 24.63 percent to the total equity turnover volume and value respectively.

At the end of trading for the day, investors traded 131.60 million shares worth N1.14 billion in 2,069 deals.