Nigeria stock market opens October with N80bn gain

The nation’s bourse resumed trading for the month of October on a positive trend, amid gains recorded by Dangote Cement and MTN Nigeria Communications.

Specifically, the All-Share Index on Friday rose by 172.01 points or 0.64 per cent to close at 26,985.77 compared with 26,813.76 achieved on Wednesday.

Also, the market capitalisation inched higher by N80 billion to close at N14.105 trillion from N14.025 trillion recorded on Wednesday.

Dangote Cement led the gainers’ table, growing by N1.10 to close at N144 per share.

MTN Nigeria Communication followed with N1 to close at N130, while Dangote Sugar added 50k to close at N12.90 per share.

Guaranty Trust Bank garnered 45k to close at N28.50, while Julius Berger gained 20k to close at N16.25 per share.

On the other hand, UACN topped the losers’ chart, dropping 45k to close at N6.50 per share.

Vitafoam trailed with 30k to close at N5.70, while Flour Mills dipped 15k to close at N21.15 per share.

FCMB Group dipped 11k to close at N2.08, Ecobank Transnational Incorporated shed 10k to close at N4.10 per share.

An analysis of the activity chart indicates that
Zenith Bank was the toast of investors, exchanging 102.52 million shares worth N1.85 billion.

Sterling Bank followed with 83.66 million shares valued at N107.13 million, while Access Bank traded 36.75 million shares worth N246.26 million.

United Bank for Africa sold 35.17 million shares valued at N214.50 million, while Fidelity Bank exchanged 29.31 million shares worth N54.36 million.

In all, investors exchanged 384.54 milliin shares valued at N3.44 billion in 3,949 deals.

This was against a turnover of 322.77 million shares worth N4.04 billion traded in 4,046 deals on Wednesday.