Nigerian equity has sustained rally for two consecutive weeks

Adebayo Obajemu

Transactions on the floor of the Nigerian Stock Exchange on Monday closed on a positive note as the All Share Index grew further by 0.29% to settle at 24,766.12 points from the previous close of 24,693.73 points.

Investors gained N37 billion as Market Capitalisation grew by 0.29% to close at N12.919 trillion from the previous close of N12.882 trillion.

An aggregate of 186.48 million units of shares were traded in 4,718 deals, valued at N1.3 billion.

Market Breadth

The market breadth closed positive as 19 equities appreciated in their share prices against 16 equities that declined in their share prices.

Percentage Gainers

Neimeth Pharmaceuticals led other percentage gainers with 10% growth, closing at N1.65 from the previous close of N1.50.

Flour Mills of Nigeria, University Press and Glaxosmith among other gainers also grew their share prices by 9.97%, 9.90% and 8.16% respectively.

Percentage Losers

UACN led other price decliners as it shed 10% of its share price to close at N6.30 from the previous close of N7.00.

AIICO Insurance, Sunu Assurance and Mutual Benefit among others also shed their share prices by 9.57%, 9.09% and 8.70% respectively.

Volume Drivers

Transcorp traded about 23.39 million units of its shares in 105 deals, valued at N14.35 million.

Custodian Investment traded about 19.14 million units of its shares in 22 deals, valued at N97.72 million.

Guaranty Trust Bank traded about 18.17 million units of its shares in 455 deals, valued at N411.6 million.