Nigeria’s Stock Market gains 0.72% GTB, Union Bank top gainer

The Nigerian equities market closed the Monday on a positive note as the Nigerian Stock Exchange (NSE) All share Index (ASI) appreciated by 0.72 per cent to close at 26,728.64 points as against the 1.54 per cent depreciation recorded previously to close at 26,537.36 points.

Market capitalization likewise grew by N65.8 billion to close at N9.29 trillion compared to a decline of N142.9 billion recorded previously to close at N9.124 trillion.

At the end of the day’s trading, the banking sector index appreciated the most with an increase of 2.4 per cent against the backdrop of bargain hunting in top banking counters such as Guaranty which increased by approximately 5 per cent, in the same vein, gains of 1.4 per cent recorded in Dangote Cement lifted the Industrial Goods index which appreciated 0.8 per cent, while the Insurance and Consumer Goods indices fell 0.5 per cent respectively due to sell-offs in Mansard (-1.5%) and Nestle (-1.3%).

Gainers chart recorded 18 gainers against 17 losers. Unity Bank Plc., led 18 gainers with an increase of 8.22 per cent or 6 kobo to close at 79 kobo per share followed by Guaranty Plc., which added 4.99 per cent or 95 kobo to close at N20.00 per share, while Union Bank Nigeria Plc., gained 4.91 per cent or 28 kobo to close at N5.98 per share.

Diamond Bank Plc appreciated 4.72 per cent or 11 kobo to close at N2.44 per share, while E-Tranzact Plc., increased by 4.66 per cent or 13 kobo to close at N2.92 per share.

On the other hand, Flourmill Plc led the day’s 17 losers with a decline of 5.00 per cent or N1.05 kobo to close at N19.95 per share, trailed by Champion Breweries Plc., which depreciated by 4.87 per cent or 17 kobo to close at N3.32 per share, while Fidson Healthcare Plc., dropped 4.85 per cent or 13 kobo to close at N2.55 per share.

Mobil Plc., also lost 4.64 per cent or N5.84 to close at N120 per share, while Vono Products Plc., fell 4.35 per cent or 3 kobo to close at 66 kobo per share.

At the end of the day’s transactions, investors on the NSE in 2,387 deals traded a total of 195.982 million shares worth N2,392 billion compared to a total of 480.4 million shares valued at N3.031 billion exchanged in 2,412 deals previously.