Stock market opens 0.06% strong as investors gain N5.5bn

The Nigerian Stock Exchange (NSE) resumed today on a positive note as All Share Index appreciated by 0.06 per cent as it closed at 28,263.16 basis points compared to last Friday’s closing figure of 28,247.07 basis points.

Market capitalisation closed the day at N9.709 trillion following a gain of N5.5 billion, compared to N27.7 billion gained last Friday when market Capitalisation closed at N9.703 trillion. The market closed with 16 gainers to 23 losers.

Flourmills Nigeria Plc topped the day’s advancing stocks with a gain of 4.99 percent or N1.00 to close at N21.04 per share. Cadbury Nigeria Plc followed with a growth of 4.95 per cent or 78 kobo to close at N16.53 per share, Skye Bank Plc appreciated 4.76 per cent or 3 kobo respectively to close at 66 kobo per share, Champion Breweries Plc garnered4 percent or 10 kobo to close at N260 per share and Law Union Plc improved 3.64 per cent or 2 kobo to close at 57 kobo per share.

On the losers’ side, Betaglas Plc led the day’s declining stocks for the second consecutive session losing 9.71 per cent or N3.39 to close at N31.51 per share, followed by Caverton Plc that lost 9.52 per cent or 10 kobo to close at 95 kobo per share, Conoil Plc fell 8.24 per cent or N3.50 to close at N39 per share, Oando Plc fell 4.93 percent or 29 kobo to close at N5.59 per share and Livestock Feeds Plc depreciated 4.40 per cent or 4 kobo to close at 87 kobo per share.

The financial services sector topped the day’s activity chart with Fidelity Bank emerging the most traded stock following the sale of 52 million shares valued at N46.8 million.

Diamond Bank came second; trading 28.3 million shares worth N34 million, Access Bank Plc sold 28.2 million shares amounting to N156.7 million. FCMB Plc exchanged 28.2 million shares worth N29 million and UBA Plc traded 15.3 million valued at N65 million

Market activity as measured by volume and value traded, settled at 249.8 million shares at N2 billion in 3,170 deals compared with 265.1 million shares at N1.6 billion traded in the previous session in 3,136 deals.