Nigerian equity has sustained rally for two consecutive weeks

Adebayo Obajemu

Trading activities on the floor of the Nigerian Stock Exchange on Monday closed on a positive note as the All Share Index appreciated further by 0.05% to close at 25,605.59 points from the previous close of 25,591.95 points.

Investors gained N7 billion as Market Capitalisation, appreciated by 0.05% to close at N13.358 trillion from the previous close of N13.351 trillion.

An aggregate of 257.03 million units of shares were traded in 3,567 deals, valued at N3.32 billion.

Market Breadth

The market breadth closed positive as 17 stocks gained while 16 stocks declined in their share prices.

Percentage Gainers

Neimeth Pharmaceuticals led other gainers with 9.55% growth, closing at N1.95 from the previous close of N1.78.

Royal Exchange, Consolidated Hallmark Insurance and CAP Plc among other gainers also grew their share prices by 7.14%, 6.90% and 6.67% respectively.

Percentage Losers

International Breweries led other price decliners as it shed 8.57% of its share price to close at N3.20 from the previous close of N3.50.

UAC Properties, FCMB and Fidson Healthcare among other price decliners also shed their share prices by 8.42%, 7.73% and 5.41% respectively.

Volume Drivers

Custodian Investment traded about 49.27 million units of its shares in 23 deals, valued at N236.49 million.

Guaranty Trust Bank traded about 29.56 million units of its shares in 198 deals, valued at N739.2 million.

WAPCO (Lafarge) traded about 23.58 million units of its shares in 265 deals, valued at N306.38 million