Business

NSE closes August positive with N9bn gain

The equities market closed yesterday on a positive note to end the month of August on the upswing as investors continue to take position on undervalued stocks and anticipation of end of year dividend

 

The market performance indices, NSE ASI, appreciated by 0.07 per cent as market breath closed negative with 11 gainers against 17 losers.

 

Consequently, the All- Share Index grew by 17.76 basis points or 0.07 per cent from 25,309.37 index points last Friday to 25,327.13 while the market capitalisation of equities appreciated by N9 billion  to close at N13.212 trillion from N13.203 trillion. On the activity chart, the premium sub-sector dominated in volume terms with 96.68 million shares exchanged in 1,374 deals.

 

The sub-sector was enhanced by activities in shares of Zenith Bank Plc and UBA Plc. The banking sub-sector boosted by activities in shares of Fidelity Bank Plc and GTBank Plc followed with 34.45 million units traded in 598 deals. In all, investors exchanged a total of302 million shares in 3,854 deals.

 

Further analysis of the day’s trading showed that Mobil Oil Nigeria Plc led the gainers chart by 10 per cent to close at N192.50 per share while FTN Cocoa Plc followed with 8.33 per cent to close at 26 kobo per share, and Royal Exchange Plc gained 7.69 per cent to close at 28 kobo per share.

 

On the flip side, C and I Leasing Plc led the losers’ chart with a drop of 10 per cent to close at N3.60 per share. UAC Property Plc followed with a loss of 7.61 per cent to close at 85 kobo per share while Red Star Express Plc dropped by 5.19 per cent to close at N3.65 per share.

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