Nigerian stock market trading activities closed on an upward note yesterday, to open for the week as it appreciated by 0.22 per cent.
The market capitalisation went up by N23 billion to close at N10.390 trillion from the N10.367 trillion recorded on Friday. Also, the All-Share Index, which opened at 30,165.22 dropped by 65.94 points to close at 30,231.16.
Capital market analysts attributed yesterday gain to investors positioning in anticipation of third quarter results and the ministerial list sent to the house of Senate.
According to analysts from APT Securities and Funds Limited, we expect the Index to rebound on the activities of value investors positioning for fundamentally justifiable stocks.
Market breadth was positive as 25 gainers and 15 losers were recorded. Forte Oil led the gainers’ chart by N10.01 to close at N264.99 per share. Mobil appreciated by N4.93 to close at N150, while Guinness went up by N3.59 to close at N152.50 per share.
PZ Industries rose by N1 to close at N26 and Ashaka Cement gained by 59 kobo to close at N23 per share.
On the other hand, Nigerian Breweries led the losers’ chart by N2 to close at N138 per share. Okomu Oil declined 66 kobo to close at N28, while Flourmills shed by 63 kobo to close at N21.37 per share.
UACN depreciated by 17 kobo to close at N28.90, while Access Bank went down by 13 kobo to close at N5.07 per share.
Total volume of shares transacted was 134.61 million valued at N1.47 billion in 2,900 deals. Top in volume transacted was Access Bank with a total volume of 33.79 million valued at N175.53 million. Diamond Bank came second on the activity with 13.06 million shares worth N39.14 million, while Zenith Bank accounted for 9.93 million shares valued N166.64 million.
Cornerstone Insurance traded 9.30 million shares worth N4.65 million, while UBA exchanged a total of 9.25 million shares valued at N40.63 million.
Source : Leadership