The Nigerian equity market on Monday reverse last week’s downtrend, gaining 0.11%, which in nominal terms translates to N15 billion rise in market capitalization.
This came as investors continue to digest the mixed earnings result that hit the market today, as earnings performance of some major bellwether came disappointing. Today’s gain was however impacted by price appreciation in Dangote Flour, GTBank, Nestle and 17 other stocks. Also, market breadth closed positive, recording 20 gainers and 14 losers.
The All Share Index (ASI) increased by 31.77 absolute points, representing a dip of 0.11% to close at 27,950.36 points. Similarly, the Market Capitalization gained N15.48 billion, representing a grew of 0.11% and closed at N13.62 trillion.
CILEASING emerged the top gainer while TOTAL emerged as top loser
The upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which are; DANGFLOUR (+9.19%) UBA (+3.51%), HONYFLOUR (+2.06%), CCNN (+1.29%), FBNH (+0.89%), GUARANTY (+0.88%), NESTLE (+0.77%) and STANBIC (-0.13%).