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NSE LIVE! Equities open with N112bn gain

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NSE Round Up! Nigerian equities rally N261b gain, heighten investor optimism

Nigerian equities closed the first trading session for this week on Monday with a net capital gain of N112 billion as investors continued bargain-hunting across sectors and stocks’ groups.

With 28 advancers to 19 decliners, the stock market showed a generally positive outlook.

The All Share Index (ASI)-the value-based common index that tracks share prices at the Nigerian Stock Exchange (NSE), rose by 0.96 per cent from its opening index of 33,810.56 points to close at 34,135.10 points. Aggregate market value of all quoted equities also rose from opening value of N11.692 trillion to close at N11.804 trillion. The rally pushed the average year-to-date return to 27.02 per cent.

Most sectoral indices closed positive, underlining the spread of the bargain-hunting that drove pricing on Monday. The NSE Industrial Goods Index rose by 1.3 per cent. The NSE Consumer Goods Index appreciated by 0.7 per cent while the NSE Banking Index inched up by 0.5 per cent. However, the NSE Oil & Gas Index dropped by 1.9 per cent while the NSE Insurance Index dipped by 0.4 per cent.

Dangote Cement led the gainers with a gain of N5 to close at N210. Presco rose by N3.61 to close at N75.94. International Breweries appreciated by N2.30 to close at N28.35. Stanbic IBTC Holdings added N1.45 to close at N32.45. Ecobank Transnational Incorporated rose by N1.02 to close at N15.35 per share. Total Nigeria chalked up N1.01 to close at N272.01. Flour Mills of Nigeria and Nigerian Breweries gathered N1 to close at N29.50 and N165 respectively. Cement Company of Northern Nigeria rose by 90 kobo to close at N9.75 while Lafarge Africa added 50 kobo to close at N54.

Read also: NSE RoundUp! Nigerian equities buck global downtrend with N188bn gain

On the negative side, Mobil Oil Nigeria led the losers with a loss of N13.20 to close at N250.90. CAP followed with a loss of N3.60 to close at N34.20. Forte Oil lost N2.77 to close at N52.81. Zenith Bank declined by 39 kobo to close at N22.50. FBN Holdings and Oando dropped by 34 kobo each to close at N6.55 and N8.02 respectively while UAC of Nigeria slipped by 29 kobo to close at N17.75.

Total turnover stood at 482.51 million shares valued at N5.68 billion in 5,771 deals. Banking stocks were the most active. Wema Bank led the activities chart with a turnover of 62.90 million shares valued at N36.16. Guaranty Trust Bank followed with 50.44 million shares worth N1.82 billion while Access Bank placed third with 34.48 million shares valued at N344.9 million.

Analysts maintained cautious optimism on the mix of bargain-hunting and profit-taking. Analysts at Afrinvest Securities noted that while the fundamentals point to improving investors’ confidence, there could be recourse to profit-taking on some stocks that had appreciated in previous trading sessions.

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