Nigeria’s equity market begins week positively with N76bn gain

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The Domestic equity market opened the week on a positive note, gaining N76 billion following gains recorded by small and medium stocks.

The market capitalisation of listed equities increased by 0.21 percent to N35.555 trillion from N35.479 trillion reported on Friday.

The NGX All Share Index also appreciated by 138.63 basis points to 63336.71 points from 65198.08 points traded the previous day.

An analysis of the investment showed that Enamalwa led gainers table during the day, gaining 9.86 per cent to close at N19.59 per share Wema Bank followed with a gain of 9.77 per cent to close at N4.72 per share, UPL also appreciated by 9.73 per cent to close at M2.48 per unit, SUNU Assurance added 9.68 per cent to close at N1.02 per share Gkaxosmith gained 9.55 per cent to close at N9.75 per unit.

On the contrary, Omatek topped losers chart during the day in percentage terms, shedding 8.82 per cent to close at N0.31 per unit, Prestige insurance trailed with a drop of 7.84 per cent to close at N0.47 per unit, Mcnichols fell by 7.35 per cent to close at N0.63 per share, Cornerstone Insurance declined by 7.22 per cent to close at N0.90 per share, Wapic Insurance dipped by 5.97 per cent to close at N0.63 per unit.

Volume of trades declined during the day as investors traded 334.333 million shares valued at N3.891 billion in 6940 deals against 363.147 million shares worth N6.073 billion in 6644 deals.

Transactions in the shares of Sterling Bank Plc led market activities during the day with 55.141 million shares valued at N197.266 million, FCMB group followed with account of 28.249 million shares cost N173.843 million, Fidelity Bank exchanged 18.842 million shares cost N150.847 million.

Japaul Gold traded 17.355 million shares cost N17.018 million while AccessCorp exchanged 17.100 million shares cost N296.635 million.

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