Investors gain N94.7bn as Nigeria’s stock market rallies from consecutive losses

Investors in the Nigerian stock market gained N94.73 billion on Monday as the bourse continued to rally following disappointing weeks this month.

Trading ended on the floor of the stock market with the equity capitalization increasing from N19.940 billion reported last Friday to N20.03 trillion on Monday.

The All Share Index up by 0.47 percent to settle at 38,437.88, compared to 38,256.95 ASI recorded last week.

Investors traded in 201.85 million shares valued at N2.11 billion in 3,827 deals on Monday.

However, this was lower than the 228.67 million shares valued at N3.67 billion that exchanged hands in 3,318 deals during the previous trading activities.

MRS led the gainers’ chart after gaining N1.10kobo to move from N11.50kobo to N12.60kobo per share.

Vitafoam gained N0.90kobo during trading to increase its share price from N10.10kobo to N11 per share.

Chams share price rose by 5 percent to end trading at N0.21kobo from N0.20kobo per share.

PZ share price increased by N0.20kobo to end trading with N5.50kobo from N5.30kobo.

AIICO share price was up by 3.46 percent to move from N1.16kobo to N1.20kobo per share at the end of trading.

READ ALSO: Nigeria’s stock market rebounds as investors close trading with N110.69bn

Royal Exchange topped the losers’ chart after shedding 9.88 percent from its share price during trading to drop from N0.81kobo to N0.73kobo per share.

Chi Plc share price declined from N0.73kobo to N0.66kobo per share following a loss of 9.59 percent in its share price.

Neimeth share price plunged by N0.16kobo to end trading at N1.72kobo from N1.88kobo per share.

Mutual Benefit share price declined from N0.44kobo to N0.48kobo per share after losing 8.33 percent in share price during trading.

Regal Insurance completed the list as its share price fell by 8.16 percent to end trading at N0.45kobo from N0.49kobo per share.

Veritas was the most active stock as investors traded 29.78 million shares worth N5.95 million.

Fidelity Bank shares were traded at a volume of 24.47 million and valued at N54.16 million.

Zenith Bank was next with 20.47 million shares traded at a cost of N481.17 million.

Access Bank reported 15.40 million shares worth N126.36 million while First Bank recorded over 10.13 million traded shares at a value of N72.34 million.

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