Market begins positively, appreciates by 448.2 points

Equity transactions on the Nigerian Stock Exchange (NSE) on Monday reopened for the week on a bullish note, with some blue chips sustaining a price rally.

Consequently, the NSE All-Share index appreciated by 448.2 points or 1.09 per cent to close at 41,577.47 points, against the 41,129.27 points achieved on Friday.

Also, the market capitalisation, which opened at N13.580 trillion, rose by N148 billion or 1.09 per cent to close higher at N13.728 trillion.

Seplat Petroleum Development Company recorded the highest gain with N14 to close at N684 per share.

Julius Berger came second on the gainers’ chart with N7.10 to close at N76.45, while Nigerian Breweries rose by N3.52 to close at N170.02 per share.

Oando Oil grew by N3.10 to close at N33.47, while MRS Oil appreciated by N3 to close at N67 per share.

On the other hand, PZ Cussons topped the losers’ chart, dropping N1.60 to close at N36.40 per share.

NNFM followed with a loss of N1.03 to close at N19.75, while Conoil dipped 80k to close at N67.80 per share.

Bocgas lost 30k to close at N5.76, while FBN Holdings lost 29k to close at N15.76 per share.

In all, a total of 519.343 million shares valued at N5.36 billion were exchanged in 5,917 deals, representing a growth of 23.92 per cent, against a turnover of 419.092 million shares worth N4.44 billion, achieved in 5,740 deals on Friday.

UBA emerged the most-traded stock, accounting for 144.56 million shares valued N1.16 billion transacted in 75 deals.

It was trailed by Transcorp, which sold 44.96 million shares worth N228.89 million in 431 deals, while Oando Oil accounted for 43.65 million shares valued at N1.45 billion in 801 deals.

CILeasing traded 23.05 million shares worth N11.59 million in 28 deals, while investors in FBN Holdings staked N336.94 million on 21.97 million shares in 466 deals.