Stock market gains N193bn over positive investor trading

The worth of investors on the Nigerian Stock Exchange (NSE) increased by N193 billion on Monday due to gain in some high cap shares.
Market capitalisation improved by 2.21 per cent or N192.7 billion to close at N8.908 trillion. This is in contrast to N33 billion lost on Friday, when market cap closed N8.715 trillion.
The All-Share Index also grew by 557.68 basis points or 2.21 per cent to close at 25,189.37 basis points.
The day’s gains were preceded by increases across major market sub sectors. The market indexes showed all sectors recorded increases except the consumer goods index (-0.04 per cent) and the insurance index (-0.15 per cent).
Market activity measured by turnover and value traded however closed positive.
The volume of shares traded in 3,054 deals closed higher with 211.8 million shares worth N1.41 billion. This is in contrast to a turnover of 171.61 million shares worth N1.11 billion transacted in 2,846 deals in previous session.
Wapco topped the gainers’ chart with a gain of 10.24 per cent to close at N50.71 per share. Diamond Bank added 5.56 per cent to close at 95 kobo and Stanbic garnered 4.98 per cent to close at N6.09 per share. ETI gained 4.93 per cent to close at N7.45 and Union Bank increased by 4.84 per cent to close at N4.98 per share.
On the other hand, Nascon recorded the highest loss of 4.91 per cent to lead the losers’ chart having closed at N7.36 per share. It was trailed by Nestle which lost 4.90 percent to close at N713.50 and NPPF Microfinance Bank dropped 4.27 percent to close at N1.12 per share.
Fidson lost four per cent to close at 96 kobo and Portland Paints depreciated by 3.70 per cent to close at N1.82 per share.