Stock Market Rises to N8.856trillion on Positive Trading

Stock Market Dips Further In Face Of More Deals

Equities trading at the Nigerian Stock Market, on Monday, December 5, kicked off the new week, in the Green Zone as market value took a leap.

Following the positive run, Market Capitalisation of the bourse appreciated from N8.692 trillion to close at N8.856 trillion.

Despite the gain, investor’s sentiments ended weak as market breadth closed with 15 gainers paired against 23 losers.

Guinness Nigeria was atop led the losers chart dropping 9.74 percent to close at N80.33 per share, while. Forte Oil led the day’s advancers appreciating by 10.24 percent to close at N71.94 per share.


Oil and Gas Stocks sustained appreciation following OPEC’s production cut decision, albeit at a slower pace with a growth of 3.57 percent compared to 4.18 percent growth recorded on Friday, while the Consumer goods Index recorded a gain of 0.05 percent to close at 718.65 points.

Whilst the Oil & Gas Index grew on account of increases in Forte Oil, Total and Oando, a 4.83 percent growth in Dangote Sugar and a 2.63 percent appreciation in Cadbury was responsible for the growth recorded in the NSE Consumer goods Index.

However the NSE Banking Index dropped 0.51 percent to close at 258.39 points following decline recorded in Wema Bank that shed 3.51 percent and Stanbic’s loss of 3.33 percent.


Zenith Bank emerged the most traded stock for the fifth day in a row with 29.5 million shares valued at N421 million, Wapic Insurance followed with 15.3 million units of shares worth N7.7 million while Guaranty Trust Bank came third with the sale of 14.9 million shares worth N343 million.

FBN Holdings traded 14.4 million shares worth N45.8 million and FCMB sold approximately 13.6 million shares at N13.6 million.

At the end of market session for the day, investors traded in 3048 deals, a total of 175.1 million valued at N3.1 billion compared to a total of 576.9 million shares worth N1.3 billion traded in 2,258 deals on Friday, December 2.

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