Home Markets Equities market opens new month with 0.09% growth

Equities market opens new month with 0.09% growth


Equity trading on the floor of Nigerian Stock Exchange (NSE) kicked off in the month on Wednesday with a marginal growth of 0.09 per cent.

In specific terms, the market capitalisation for the first trading day increased by N14 billion or 0.09 per cent to close at N14.962 trillion as against N14.948 trillion on Monday.

Similarly, the All-Share Index (ASI) which opened at 41,268.23 rose by 38.01 absolute points or 0.09 per cent to close at 41,306.02.

Analysis of the price movement chart showed that Mobil Oil led the gainers’ table, improving by N16.70 to close at N19.50 per share while Dangote Cement followed with a gain of N1.90 to close at N247.90, while Presco increased by 70k to close at N70 per share.

Union Bank of Nigeria gained 25 kobo to close at N6.50, while United Bank for Africa gained 15 kobo to close at N11.70 per share.

On the other hand, Nestle topped the losers’ chart, shedding N29 to close at N1, 570 per share.

Dangote Flour trailed with a loss of N1.25 to close at N12.05, while Nigerian Breweries was down by 90 kobo to close at N129 per share.

Cadbury lost 65 kobo to close at N13.15, while Dangote Sugar dropped 50 kobo to close at N20 per share.

However, the volume of shares traded dropped by 38.69 per cent, while the value of shares exchanged rose by 38.91 per cent.

Consequently, investors bought and sold 276.24 million shares valued at N6.89 billion exchanged in 5,327 deals.