Stock Market Opens Week Bullish With N400bn Gain

The Nigerian equities market sustained its bullish trajectory to start buying and selling this week, as the general market capitalisation superior by N400 billion.

Consequently, the All-Share Index rose by 713.58 factors, representing a achieve of 0.53 per cent to shut at 135,166.51 factors. Additionally, market capitalisation rose by N400 billion to shut at N85.455 trillion.

The upturn was pushed by value appreciation in massive and medium capitalised shares amongst that are; MTN Nigeria Communications (MTNN), UACN, Unilever Nigeria, Lafarge Africa and Okomu Oil.

On market outlook, Futureview Group mentioned, “we keep a cautiously optimistic outlook for the equities market this week, with expectations of sustained constructive momentum within the absence of any important damaging macroeconomic or market shocks.”

Market breadth remained constructive, with 45 shares appreciating towards 25 decliners.

Academy Press emerged the very best value gainer of 9.99 per cent to shut at N10.24, per share. Champion Breweries adopted with a achieve of 9.98 per cent to shut at N13.55, whereas Triple Gee and Firm rose by 9.97 per cent to shut at N3.86, per share.

Might & Baker Nigeria elevated by 9.94 per cent to shut at N18.80, whereas UACN added 9.92 per cent to shut at N60.40, per share. On the opposite aspect, Livestock Feeds led the losers’ chart with 10 per cent to shut at N8.10, per share. The Initiates Plc (TIP) adopted with a decline of 9.98 per cent to shut at N14.52, whereas Ellah Lakes shed 9.08 per cent to shut at N8.91, per share.

Nigerian Alternate Group depreciated by 6.02 per cent to shut at N75.00, whereas Thomas Wyatt Nigeria down by 5.54 per cent to shut at N2.90, per share.

The whole quantity traded superior by 11.47 per cent to 795.593 million items, valued at N23.231 billion, and exchanged in 37,626 offers. Transactions within the shares of Constancy Financial institution led the exercise with 123.010 million shares price N2.584 billion. FCMB Group adopted with 68.405 million shares valued at N670.144 million, whereas Japaul Gold & Ventures traded 44.093 million shares valued at N126.770 million.

Zenith Financial institution traded 31.033 million shares price N2.249 billion, whereas Entry Holdings traded 29.061 million shares price N816.795 million.