Nigerian bourse opens the week 1.41% strong

Trading activities in equities on The Nigerian Stock Exchange opened the week on a positive note by 1.41 percent gain despite a dip in both trade volume and value relative to the previous trading session.
Trading on the Exchange maintained last week’s gaining streak as the All-Share Index (ASI) recorded 141 basis points gain on Monday, closing at 36,831.93bps while market capitalisation closed higher at N12.804 trillion.
The bulls continued to dominate the market as market breadth closed positive with 21 losers against 27 gainers. However, volume and value of trades both declined by 28.55 percent and 19.96 percent respectively.
Other than the ASEM index that has remained unchanged at 1156.70 for days now, all other sector indices closed positive on Monday.
May&Baker, International Breweries, Sterling Bank, Total and Flour Mill made up the top-five gainers while AG Leventis, Diamond Bank, Linkage Assurance, NAHCO and Unity Bank dominate the losers’ chart for the day.
Analysts are of the view that the positive outlook of the market for the past few days should seem enticing to some investors and as such expected an inevitable spike in the number of equities market investors if such a form is sustained.