Equity market opens on a positive note, gains N50bn

Trading activities on the floor of Nigerian Exchange (NGX) on Monday took positive trend, gaining N50 billion.

Specifically, market capitalisation of listed equities increased by 0.19 per cent to N25.456 trillion from N25.406 trillion it closed on Friday.

The NGX All Share Index also appreciated by 93.43 basis points to 47233.91 points from 47140.48 points reported the previous day.

Investors’ traded 421.458 million shares valued at N4.220 billion in 5961 deals against 424.695 million shares cost N6.523 billion in 4601 deals.

A review of the investment showed that RTBriscoe led gainers table during the day, increasing by 10.00 per cent to N0.66, United Capital followed with a gain of 10.00 to N13.20, Africa Prudential Plc added 9.56 per cent to N7.45, Academy Press increased by 9.50 per cent to N1.96. Champion Breweries added 8.78 per cent to N2.23.

On the contrary, Juli Plc recorded the highest loss, shedding 9.76 per cent to N0.74, Multiverse trailed with a loss of 8.00 per cent to N0.23, Mutual Benefits fell by 7.14 per cent to N0.26, Flour Mills Nigeria Plc down by 4.56 per cent to N33.50, Honey Well Flour Mills down by 4.23 per cent to N3.85.

The result further showed that Transnational Corporation of Nigeria was most active stock during the day, exchanging 99.257 million shares valued at N118.534, Zenith Bank followed with account of 46.325 million shares cost N124.831, United Capital traded 31.575 million shares valued at N416.795 million, United Bank for Africa exchanged 26.978 million shares cost N233.969 million while Fidelity Bank sold a total of 23.802 million shares valued at N72.423 million.

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