By Kunle SHONUGA
Activities on the Nigerian Stock Exchange (NSE) on Monday reversed the six-consecutive days downward movement with important market indices appreciating by 0.34 per cent.
TBI Africa reports that the All-Share Index rebounded by 129.59 points or 0.34 per cent to close at 37,992.12, against the 37,862.53 recorded on Friday.
Similarly, the market capitalisation increased by N47 billion or 0.34 per cent to close at N13.762 trillion, compared with N13.715 trillion achieved on Friday.
The market momentum was lifted by Dangote Cement which led the gainers’ table with N5, to close at N230 per share. Cement Company of Northern Nigeria followed with a gain of N1.20 to close at N25.95, while Guaranty Trust Bank added 35k to close at N41.05 per share. Stanbic IBTC improved by 25k to close at N49, while Unilever also appreciated by 25k to close at N51 per share.
Conversely, Seplat topped the losers’ chart for the day, dropping by N34.20 to close at N650.80 per share. Nestle trailed with a loss of N5 to close at N1, 490 while CAP dipped N1.80 to close at N35 per share. Lafarge Africa was down by 90k to close at N38.10, while Guinness depreciated by 50k to close at N97 per share.
Also, the market volume and value appreciated by 83.83 per cent and 139.16 per cent, respectively.
Specifically, investors bought and sold 307.41 million shares valued at N3.42 billion, transacted in 3,822 deals.
This was in contrast with a turnover of 167.23 million shares worth N1.43 billion traded in 3,847 deals on Friday.
United Bank for Africa dominated trading activities, accounting for 43.71 million shares valued at N459.24 million.
Honey Well Flour came second with an account of 16.89 million shares valued at N34.23 million, while Zenith International Bank traded 16.19 million shares worth N418.66 million.
FBN Holdings sold 12.56 million shares valued at N133.72 million, while Sterling Bank exchanged 11.29 million shares worth N15.39 million.