x

NSE market indices open week with 1.46% growth

The Nigerian stock market opened new week on Monday on an upward trend with key indicators appreciating by 1.46 per cent.

Specifically, the All-Share Index (ASI), which opened at 24,427.73 points, rose by 355.88 points or 1.46 per cent to close at 24,783.61, compared with 24,427.73 on Friday.

Similarly, the market capitalisation increased by N186 billion at N12.928 trillion to close at N12.742 trillion on Friday.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are: Dangote Cement, Guaraty Trust Bank, Lafarge Africa, Zenith Bank and United Bank for Africa.

Analysts at the United Capital Plc said that half-year results would determine performance of the local market.

Also, analysts at Imperial Asset Managers Limited said: “We expect the current volatility (up and down movement) to continue this week.

“However, buying interests are expected to continue in the tier-one banks and resurface in some blue-chip companies that usually pay interim dividend for half-year,” they said.

The analysts urged investors with long-term investment goal to continue to build their portfolios in fundamentally viable stocks.

A breakdown of the price movement chart shows Unity Bank led the gainers’ chart in percentage terms, rising by 9.62 per cent to close at 57k per share.

Lafarge Africa followed with 9.59 per cent to close at N12, while Guaranty Trust Bank rose by 7.62 per cent to close N23.30 per share.

Neimeth grew by 7.14 per cent to close at N1.50, while Dangote Cement appreciated by 5.66 per cent to close at N141.80 per share.

Conversely, AXA Mansard Insurance and UAC Property led the losers’ chart in percentage terms, dropping by 10 per cent each to close at N1.44 and 81k per share, respectively.

Seplat followed with a decline of 9.99 per cent to close at N312.70 per share.

Berger Paints lost 9.84 per cent to close at N5.50, while CAP shed 9.76 per cent to close at N17.10 per share.

Transactions in the shares of Flour Mills topped the activity chart with 30.47 million shares valued at N518.06 million.

Lafarge Africa followed with 28.07 million shares worth N335.84 million, while FBN Holdings traded 9.95 million shares valued at N49.77 million.

Guaranty Trust Bank traded 8.98 million shares valued at N201.60 million, while UBA transacted 8.27 million shares worth N50.41 million.

In all, the total volume of shares decreased by 2.41 per cent with an exchange of 169.99 million shares valued at N2.39 billion traded in 4,336 deals.

This was in contrast with 174.19 million shares worth N2.38 billion transacted in 3,723 deals on Friday. (NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Nigeria Risks Disintegration Without Federal Reform – Anyaoku Warns

Elder statesman and former Commonwealth Secretary-General, Chief Emeka Anyaoku,...

BREAKING: Court Reinstates Suspended Edo LG Chairman

An Edo State High Court sitting in Igarra, Akoko-Edo...

FCTA Crushes 601 Impounded Motorcycles in Abuja

By Joyce Remi-BabayejuThe Federal Capital Territory Administration, FCTA, on...

FIRS Launches E-Invoicing Committee to Enhance Tax Compliance

The Federal Inland Revenue Service (FIRS) has inaugurated the...

FG Sponsors 37 Visually-Impaired Candidates for UTME in Bauchi

The Federal Government, through the Joint Admissions and Matriculation...

BREAKING: EFCC Arrests Socialite E-Money Over Naira Abuse, Dollar Spraying

The Economic and Financial Crimes Commission (EFCC) has arrested...

CROSSJOF Congratulates Mrs.Otu, CRS First Lady on 61st Birthday

By Joyce Remi-BabayejuCross River State Journalists Forum (CROSSJOF) FCT...

CRA raises alarm over plot to force Adamawa Female Christian Vice Chairman to resign

By Achadu Gabriel, KadunaThe Christian Rights Agenda (CRA), has...
spot_img

Related Articles

Popular Categories

spot_imgspot_img