Transactions on the floor of the Nigerian Stock Exchange, NSE, on Monday, October 16, kicked off the new week upbeat, pushing up the value of the lead indices of the bourse.
Consequently, the All Share Index, ASI gained 0.33%, with performance and activity levels largely driven by rally in the Banking sector.
Market breadth closed in the green at the end of the day with 24 stocks advancing against 15 stocks that declined.CILeasing topped the gainers’ chart, while LearnAfrica led the laggards’ pack.
Guaranty Trust Bank topped the market in terms of total value with N981m worth of shares exchanged, however, Transcorp was the most actively traded stock with c.31m units of shares.
Gains in Tier 1 names; Zenith Bank and Guaranty Trust Bank, as well as Stanbic IBTC, more than offset UBA loss as the sector closed with a gain of 0.99%.
The NSE Consumer Goods Index was the worst performer shedding 0.31% following the 1.21% loss recorded by Nigerian Breweries. Meanwhile Industrial Index surged marginally by 0.09% with support from Dangote Cement with a gain of 0.21% NSE Oil & Gas Index dropped 0.02% following Oando 0.17% loss.
