Nigerian equity market makes marginal gain after losing streak

The Nigerian equity market reversed the downtrend on Monday, having recorded a week losing streak last week.

The All Share Index (ASI) increased by 16.92 absolute points, representing a 0.06 per cent growth to close at 29,287.87 points. Similarly, the Market Capitalization gained N7.46 billion, to represent a growth of 0.06 per cent and closed at N12.91 trillion.

All the sectors appreciated except the banking and oil and gas sectors, which declined -0.09 per cent and -1.44 per cent respectively.
FLOURMILL gained 10 per cent emerged the top gainer of the 17 stocks that appreciated on Monday.

On the other hand, Forte Oil shed -10 per cent to top 13 other losers.

The upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which are; FLOURMILL (+10.00%), WEMABANK (+8.20%), NEM (+5.58%), NASCON (+3.33%), FBNH (+2.42%), UBA (+0.83%), ACCESS (+0.75%), and MTNN (+0.35%).