Business
Stock market halts 11-Day bearish run as ASI up 0.36%
After bearish performance was sustained at the Nigeria Stock Exchange (NSE) for 11 consecutive trading sessions, the equities market rebounded on Monday to halt the longest losing streak since July 2015.
The NSE opened the trading week on a bullish note as the All Share Index (ASI), key performance indicator of the NSE, rose by 36 basis points to close at 36,947.10 points.
However, the Year-To-Day (YTD) return sustained its negative trend at 3.4 per cent, while activity level weakened as the total volume and value dropped 39.2 per cent and 2.3 per cent to 314.5 million units and N7 billion respectively.
The positive performance recorded today was driven by buying interest in bellwethers like; GUARANTY which appreciated by 4.5 per cent, NIGERIAN BREWERIES (+2.9 per cent), and ZENITH (+2.0%).
Consequetly, investors gained N47.4 billion as market capitalisation rose to N13.4 trillion.
JAPAUL led the gainers’ list with 9.09 per cent to close at 24k per share. CUSTODIAN trailed with 4.92 per cent appreciation to close at N5.12 per share, while ETERNA followed closely by 4.90 per cent increase to close at N6.64 per share.
UNITYKAP went up by 4.17 per cent to close at 25k per share, while GUARANTY rose by 3.49 to close by N40 per share.
Read Also: Nigerian govt offers June Savings Bond at 11.344%
On the flip side, OANDO led the losers’ list with 8.96 per cent depreciation to close at N6.10 per share. CADBURY followed closely by dropping 8.00 per cent to close at N11.50 per share, while INTBREW fell by 7.96 per cent to close at N37 per share.
PRESCO shed 5.00 per cent to close at N71.25 per share, while PZ lost 4.81 per cent to close at N20.80 per share.
GUARANTY emerged the top traded stock by volume as it traded 67.16 million units valued at N2.68 trillion. SOVRENINS followed with 33.01 million units of shares worth N8.89 million, while FBNH traded 19.60 million units of shares valued at N202.21 million.
On the top traded stocks by value, GUARANTY topped N2.68 trillion, then it was followed by NIGERIAN BREWERIES which transacted N1.1 billion worth of shares while NESTLE traded shares valued at N852.7 million.
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