NSE: Market indicators up by 0.80% despite election

Contrary to market expectations ahead of the general elections, activities resumed for the week on the Nigerian Stock Exchange (NSE) on a positive trend with a growth of 0.80 per cent.

Our correspondent reports that the All-Share Index on Monday rose by 251.95 points or 0.80 per cent to close at 31,781.87 compared with 31,529.92 achieved on Friday.

Also, the market capitalisation which opened at N11.758 trillion inched N93 billion or 0.80 per cent to close at N11.851 trillion.

In spite of the growth, market analysts had maintained that the stock market would witness mixed performance this week being an election week.

Our correspondent reports that 40 stocks recorded price growth, while 10 stocks posted price depreciation.

A breakdown of the price movement chart indicates that Beta Glass led the gainers’ table with a gain of N8.30 to close at N73.30 per share.

Seplat followed with a gain of N5 to close at N565.50, while Unilever gained N2 to close at N39 per share.

Cadbury added N1 to close at N11, while Stanbic IBTC also appreciated by N1 to close at N48 per share.

On the other hand, Total recorded the highest price loss to lead the losers’ table, dropping by N15.90 to close at N205 per share.

International Breweries followed with a loss of N1 to close at N29, while C & I Leasing declined by 90k to close at N8.14 per share.

Dangote Cement was down by 50k to close at N185, while Medview lost 15k to close at N1.70 per share.

In all, a total of 551.59 million shares valued at N5.65 billion were transacted by investors in 5,220 deals.

This was in contrast with 723.79 million shares worth N12.21 billion traded in 5,752 deals on Friday.

Access Bank was the active stock, exchanging 101.62 million shares valued at N700.19 million.

United Bank for Africa followed with an account of 69.91 million shares worth N547.13 million, while Diamond Bank traded 52.67 million valued at N125.72 million.

Zenith Bank sold 46.51 million shares worth N1.15 billion, while Transcorp exchanged 45.07 million shares valued at N64.69 million.