The Nigerian stock market opened the new month on a positive note, on Thursday, September 1, riding on the back improved activities.
The upturn was strongly impacted by price depreciation recorded in a handful of large capitalised stocks, amongst which are Dangote Cement, Forte Oil, CAP, Guinness and Nigerian Breweries.
The most appreciated stock of the day was SEPLAT which opened at N275 to close at N303.18 as it gained N28.18, 7UP which opened the day trading at N127.99 closed at N140, having added N12.01per share, PRESCO rose from N41.5 opening value to close at N45.3 as it was marked up by N3.8.
The total volume traded declined by 12.7 per cent to 229.23 million shares, valued at N2.12 billion, and traded in 3,243 deals at the close of market day.
Analysts said that the equity market ignored depressed economic data released by the National Bureau of Statistic (NBS), posting a high return amidst news on foreign Portfolio Investment (FPI) inflows.
