Business

NSE opens week positive with N15bn gain

POSITIVE SENTIMENT

 

NSE ASI appreciated by 0.12 per cent with market breathe closing negative with 18 gainers as against 29 losers

 

The equities market closed yesterday positive to commence the weekly trading activities on the upswing after the market closed last Friday also in the green.

 

The market performance indices, NSE ASI, appreciated by 0.12 per cent with mar ket breathe closing negative with 18 gainers as against 29 losers.

 

Consequently, the All- Share Index grew by 233.66 basis points or 0.12 per cent from 24,829.02 index points last Friday to 24,858.89 while the market capitalisation of equities appreciated by N15 billion to close at N12.967 trillion from N12.952 trillion.

 

On the activity chart, the premium sub-sector dominated in volume terms with 46.72 million shares exchanged in 1,299 deals.

 

The sub sector was enhanced by the activities in the shares of FBNH Plc and Zenith Bank Plc. Insurance sub-sector boosted by activities in shares of Lasaco Assurance Plc and Mutual Benefits Assurance Plc followed with 27.83 million units traded in 185 deals.

 

In all, investors exchanged a total of 158.72 million shares exchanged in 3,940 deals.

 

Further analysis of the day’s trading showed that Cutix Plc, Okumo Oil Plc and Regency Alliance Insurance Plc led the gainers with 10 per cent each to close at N1.76, N70.40 and 22 kobo per share respectively while Neimeth Pharmaceuticals Plc followed with 9.49 per cent to close at N1.50 per share and Wapic Insurance Plc with a gain of 9.38 per cent to close at 35 kobo per share.

 

On the flip side, Unilever Nigeria Plc led the losers’ chart with a drop of 10 per cent to close at N15.30 per share. ARDOVA Plc followed with a loss of 9.96 per cent to close at N11.75 per share while Chellarams Plc dropped by 9.71 per cent to close at N2.51 per share.

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