Stock market in bullish start on Monday, gains N178bn
The nation’s bourse reopened new trading week on Monday upbeat with the market capitalisation rebounding by N178 billion.
The market capitalisation which opened at N20.081 trillion rose by 0.89 per cent to close at N20.259 trillion.
Also, the All Share Index rose by 340.48 points or 0.89 per cent to 38,722.87, from 38,382.39 on Friday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Stanbic IBTC Holdings, BUA Cement, Julius Berger, Ardova Plc and UACN.
Market sentiment was positive with 26 gainers against eight losers.
Julius Berger and Stanbic IBTC Holdings dominated the gainers’ chart in percentage terms, gaining 10 per cent each to close at N18.70 and N144 per share, respectively.
UACN followed with a gain 6.67 per cent to close at N8 per share.
John Holt rose by 6.52 per cent to close at 49k, while International Breweries appreciated by 5.88 per cent to close at N5.40 per share.
On the other hand, Champion Breweries led the losers’ chart in percentage terms with a loss of 8.20 per cent to close at N2.24 per share.
Jaiz Bank followed with a loss of 4.48 per cent to close at 64k, while Japaul Gold and Ventures declined by 4.08 per cent to close at 47k per share.
Consolidated Hallmark Insurance dipped 3.23 per cent to close at 30k, while Learn Africa shed 2.73 per cent to close at N1.07 per share.
A breakdown of the activity chart shows that transactions in the shares of Union Bank of Nigeria topped the activity chart with 79.89 million shares valued at N423.44 million.
Guaranty Trust Bank followed with 36.129 million shares worth N1.124 billion, while FBN Holdings traded 33.29 million shares valued at N242.46 million.
Zenith Bank sold 25.003 million shares worth N562.47 million, while Transcorp transacted 24.06 million shares valued at N19.45 million.
In all, the total volume of trades declined by 4.6 per cent to 277.24 million shares worth N3.05 billion exchanged in 4,299 deals.
This was in contrast with 290.62 million shares valued at N4.02 billion transacted in 4,311 deals on Friday.
(NAN)
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