Stock market begins week with bullish trend as market cap appreciates N8bn

By Cynthia Ezekwe

Trading activities on the floor of the Nigerian Exchange (NGX) began the week on a bullish note as market capitalisation of equities saw a marginal gain of N8 billion to close at N32.134 trillion.

The All-Share Index (ASI) inched  0.02 per cent  higher to close at 59,014.85 index points as against 59,000.96 index points recorded in the previous day’s trading session.

Trading volume increased by 34.80 per cent as  an aggregate of 892.95 million units of shares were exchanged in 9,274 deals, valued at N11.15 billion.

Market breadth closed positive as Universal Insurance Plc led the gainers chart with a gain of 10.00 per cent, while Ellahlakes Plc led the losers  table with a decline of  10.00 per cent.

UNIVINSURE topped the gainers chart as it gained 10.00 per cent in its share price  to close at N0.22 per share; TANTALIZER appreciated 10.00 per cent  to close at N0.22 per share; UNITYBNK increased  9.80 per cent  to close at N1.12 per share; MBENEFIT was up  9.76 per cent  to close at N0.45 per share; while FTNCOCOA appreciated  9.63 per cent  to close at N1.48 per share

On the contrary, ELLAHLAKES topped the losers chart as it shed 10.00 per cent of its share price  to close at N3.24 per share; JOHNHOLT was down 9.57 per cent  to close at N1.04 per share; ACADEMY was declined by 9.55 per cent  to close at N1.80 per share; OMATEK lost 7.14 per cent  to close at N0.26 per share; while REGALINS depreciated 7.14 per cent  to close at N0.39 per share.

 Jaiz Bank Plc was the most traded equity by volume at the end of the trading activities on Monday.