Market indices were lifted further on Monday, following some significant rise in the prices of major stocks in the Nigerian Stock Exchange.
At the close of equity trading activities, 48 stocks recorded price appreciation, while 11 stocks depreciated in value.
First City Monument Bank Plc recorded the highest gain for the day, its shares rose by 10 per cent or 47 kobo to close at N5.17 per share.
Air Service and Logistics Plc followed on the price gainers’ chart, also rising by 10 per cent or 44 kobo to close at N4.84 per share.
Fidelity Bank Plc and Skye Bank Plc gained 9.9 per cent each to close at N2.04 and N74 kobo per share respectively.
United Bank for Africa Plc, Sterling Bank Plc, Fidson Healthcare Plc ND Presco Plc also added over nine per cent each, while Nigerian Bags Manufacturing Company Plc and Aiico Insurance Plc gained 8.3 per cent each to close at N2.60 and 78 kobo per share.
Thus, the NSE’s All- Share Index rose by 1.6 per cent or 448.14 basis points to close at 28,986.20 basis points, up from 28,538.06 basis points recorded last Friday.
Similarly, the market capitalisation of the listed equities gained 1.6 per cent or N143bn to close at N9.264tn, up from N9.264tn recorded at the end of last week.
The NSE-30 Index also appreciated by 1.6 per cent or 21.69 basis points, from 1,359.01 basis points to close at 1,380.70 basis points.
Neimeth Pharmaceutical Company Plc recorded the highest loss for the day, shedding five per cent or five kobo to close at 95 kobo per share.
Beta Glass Plc and NEM Insurance Plc followed with a decline of 4.9 per cent each to close at N9.98 and 58 kobo per share in that order.
The NSE Banking Index recorded the highest gain among the major indicators as it rose by 3.8 per cent or 13.59 basis points to close at 373.59 basis points, compared to 360 basis points recorded on Friday.
Activities in the banking sub-sector drove volume for the day, as it accounted for 73 per cent of total turnover.
Trading in the shares of Unity Bank Plc, FCMB, Fidelity Bank and Skye Bank Plc drove volume in the sub-sector.
Source: Punch (written by Udeme Ekwere)
