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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

Investors Gain N6billion As High-capitalised Stocks Rally

Investors at the Nigerian Stock Market, on Monday, September 26, smiled to the bank as trading reopened with a modest gain of N6 billion.
Market capitalisation closed the day at N9.709 trillion following a gain of N5.5 billion, compared to N27.7 billion gained last Friday when market Capitalisation closed at N9.703 trillion.
The gain was driven by the rally of highly capitalised stocks which overshadowed widespread losses induced by profit-taking transactions.

Aggregate market value of all quoted equities on the NSE rose from N9.703 trillion to close at N9.709 trillion. The All Share Index (ASI), the main index that tracks prices at the Exchange, also inched up from 28,247.07 points to close at 28,263.16 points.
With 23 losers to 16 gainers, the modest gain was driven by gains recorded by some highly capitalised stocks. Group and sectoral indices showed mixed performances. The NSE Consumer Goods Index appreciated by 0.4 per cent. The NSE Insurance Index inched up by 0.2 per cent. On the flipside, the NSE Banking Index declined by 0.3 per cent.

Total Nigeria led the gainers with a gain of N4.25 to close at N299.25. Nigerian Breweries rose by N1.48 to close at N145. Flour Mills of Nigeria gathered N1 to close at N21.04. Cadbury Nigeria added 78 kobo to close at N16.53. Dangote Cement rose by 47 kobo to close at N182.50.

Ecobank Transnational Incorporated rose by 14 kobo to close at N11.50. Dangote Flour Mills inched up 13 kobo to close at N3.86 while FBN Holdings and Champions Breweries added 10 kobo each to close at N3.20 and N2.60 respectively.

On the negative side, Seven-Up Bottling Company recorded the highest loss of N5.45 to close at N144.55. Conoil followed with a loss of N3.50 to close at N39. Beta Glass declined by N3.39 to close at N31.51. Forte Oil dropped by N2.11 to close at N161 while Oando lost 29 kobo to close at N5.59 per share.
The most active stock was Fidelity Bank with 52.01 million shares valued at N46.81 million. Diamond Bank followed with 28.33 million shares worth N34 million while Access Bank placed third with 28.23 million shares worth N156.71 million. Total turnover stood at 249.76 million shares valued at N1.96 billion in 3,170 deals.

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