Stock Market Flags Off New Week on Positive Note as Index Scoops 2.02%

Transactions on the floor of the Nigerian Stock Exchange, NSE, kick started the week on a positive note on Monday, February 7, as All Share Index appreciated by 475.23 points representing 2.02 per cent to close at 23,977.87 basis points, compared with the 0.07per cent depreciation recorded last week.

The market capitalization soared by N163 billion to close at N8.246 trillion from N8.083 trillion it opened.

Market turnover closed negative as volume declined by 65.67 per cent against 79 per cent decline recorded in the previous session.

At the close of trading for the day, FCMB Plc, Zenith Bank, FBN Holdings, Stanbic IBTC Holdings and UBA were toast of investors as they traded the share volume of 38.525 million, 29.326 million, 21.680 million, 21.215 million and 15.431 million worth N34.223 million, N371.245 million, N85.203 million, N297.009 million and N43.371 million respectively.

Market breadth closed positive as Dangote Cement Plc led 17 gainers against 22 losers topped by Mobil Nigeria, which was an improved performance when compared with previous outlook.

NPF Microfinance led the list of active stocks that recorded impressive volume spike at the end of trading.

Top on gainers’ chart was Dangote Cement Plc with a gain of N9.70 kobo to close at N134.00 kobo, followed by Nestle Nigeria Plc with N2.02 kobo to close at N705.02 kobo, Seplat Petroleum Development Company Plc with N2.00 kobo per share to close at N245.00 kobo, Unilever Nigeria Plc gained N1.50 kobo to close at N31.84 kobo and PZ Plc with N1.00 kobo to close at N21.90 kobo per share.

On the other hand Mobil Nigeria Plc topped losers chart with N2.62 kobo to close at N145.01 kobo, Conoil Plc with N2.09 kobo to close at N20.25 kobo per share and Okomu Oil Palm Plc with N1.01 kobo loss to close at N27.99 kobo per share.