Stock market overturn negative trend as Index up by 0.34%
The equity market opened Monday on a positive note as the bullish trend reversed the six-consecutive days downward movement with the Nigerian Stock Exchange All Share Index (NSE ASI) appreciating by 0.34% to close at 37,992.12 points. The appreciation recorded in the share prices of some highly capitalised companies such as Dangote Cement, GT Bank, Zenith Bank, Flour Mills and FBN Holdings were mainly responsible for the gain recorded in the Index. Similarly, the market capitalization appreciated by 0.34% to close at N13.76trillion compared with the depreciation of 0.76% recorded last Friday. The three most actively traded stocks in volume terms were UBA recording 43.71million shares, Honeywell Flour 16.89 million shares and Zenith Bank 15.57million shares. Meanwhile, the market momentum was lifted by Dangote Cement which led the gainers’ table with N5.00, to close at N230 per share. Cement Company of Northern Nigeria followed with a gain of N1.20 to close at N25.95, while Guaranty Trust Bank added 35kobo to close at N41.05 per share. Stanbic IBTC improved by 25 kobo to close at N49.00, while Unilever Nigeria Plc also appreciated by 25kobo to close at N51 per share. On the other hand, Seplat topped the losers’ chart dropping by N34.20 to close at N650.80 per share. Nestle Nigeria Plc followed with a loss of N5.00 to close at N1, 490 while CAP Nigeria Plc dipped N1.80 to close at N35.00 per share. Lafarge Africa was down by 90k to close at N38.10, while Guinness depreciated by 50kobo to close at N97.00 per share.