The equities market closed on a positive note on Monday, with major indicators appreciating.
Despite closing on a negative note for the last two sessions of last week, analysts had predicted strong activities this week.
At the close of activities on Monday, the Nigerian Stock Excange’s All-Share Index rose by 0.32 per cent to close at 39,045.07 basis points as against a fall of 0.02 per cent on Friday, which saw it close at 38,920.85.
Similarly, the market capitalisation of the listed equities rose by 0.32 per cent or N40bn to close at N12.488tn, up from N12.448tn.
The NSE Banking Index recorded the best performance among the sectoral indices on Monday after it gained 0.46 per cent to close at 411.39 basis points, while the NSE Insurance Index declined the most as it shed 0.57 per cent to close at 143.83 basis points.
Although the market closed on a positive note, market turnover was negative with the volume traded falling by 48.33 per cent compared to a rise of 121.45 per cent on Friday.
In all, investors traded 289.087 million shares worth N1.723bn in 4,495 1 deals on Monday, whereas a total of 559.501 million shares worth N8.310bn were exchanged in the previous session in 4,788 deals.
Also, 34 stocks recorded price appreciation, while 17 recorded price depreciation as against 24 gainers and 27 losers in the previous session.
Jos International Breweries Plc led the price gainers, rising by 9.98 per cent or 43 kobo to close at N4.74 per share followed by Union Dicon Salt Plc, which shed 9.96 per cent or 51 kobo to close at N5.63 per share.
Costain (West Africa) Plc recorded an 8.60 per cent price depreciation to close at N1.01 per share, while Eterna Plc lost 5.76 per cent or 24 kobo to close at N4.4 per share.
Livestock Feeds Plc led the losers, after it shed 6.92 or 29 kobo per cent to close at N3.90 per share. It was followed by Forte Oil Plc with a five per cent price depreciation to close at N108.30 per share.
Source: Punch (by Simon Ejembi)