Business

NSE market indices gain 0.07 percent

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria, file. REUTERS-Afolabi Sotunde

The Nigerian Stock Exchange on Monday closed the last trading day of August with a growth of 0.07 per cent, following sustained positive sentiment.

Specifically, the All-Share Index rose by 17.76 points or 0.07 per cent to close at 25, 327.13 compared with 25,309.37 achieved on Friday.

Similarly, the market capitalisation improved by nine billion naira or 0.07 per cent to close at N13.213 trillion against N13.203 trillion posted on Friday.

The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are: Mobil Nigeria, Dangote Cement, Lafarge Africa, Vitafoam and BUA Cement.

Analysts at United Capital Plc said, “This week, we expect to see some profit taking, given the bullish performance in the last two weeks.”

Mobil led the gainers’ chart in percentage terms, appreciating by 10 per cent to close at N192.50 per share.

FTN Cocoa followed with 8.33 per cent to close at 26k, while Royal Exchange garnered 7.69 per cent to close at 28k per share.

Vitafoam inched higher by 4.39 per cent to close at N5.71, while Lafarge Africa appreciated by 3.46 per cent to close at N11.95 per share.

Conversely, C & I Leasing topped the laggards’ chart in percentage terms, with a loss of 10 per cent to close at N3.60 per share.

UACN Property trailed with a loss of 7.61 per cent to close at 85k, while Red Star Express dipped 5.19 per cent to close at N3.65 per share.

Mutual Benefits Assurance lost 4.76 per cent to close at 20k, while NEM Insurance shed 3.72 per cent to close at N2.07 per share.

Also, the total volume of shares traded increased by 120.36 per cent with an exchange of 302.01 million shares worth N2.628 billion in 3,854 deals.

This was against a total of 137.05 million shares valued at N920.53 million exchanged in 2,869 deals on Friday.

Transactions in the shares of UACN topped the activity chart, accounting for 74.43 million shares valued at N425.23 million.

Zenith Bank followed with 23.89 million shares worth N400.40 million, while United Bank for Africa traded 22.43 million shares valued at N141.15 million.

FBN Holdings traded 22.26 million shares worth N109.92 million, while Access Bank transacted 18.02 million shares worth N112.15 million.

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