Equity market opens on positive note, gains N59bn

Trading activities on the floor of the Nigerian Stock Exchange yesterday open week in positive note, gaining N59 billion as some companies begin to pay cash dividend to investors.

Specifically, market Market Capitalisation of listed equities increased by 0.29 per cent to N20.490 trillion from N20.431 trillion reported the previous day.

The NSE All Share Index also appreciated by 113.99 basis points to 39312.74 points from 39198.75 traded the previous day.

Investors traded 324.187 million shares valued at N3.280 billion in 4867 deals against 238.937 million shares worth N2.952 billion in 3947 deals.

An analysis of the transactions during the day showed that ABC Transport led gainers table during the day, increasing by 9.68 per cent to close at N0.34 kobo, Regal Insurance followed with a gain of 9.68 per cent to N0.34 kobo, Union Bank of Nigeria PLC added 2.26 per cent to N5.9 kobo , Linkage Assurance grew by 8.70 per cent to N0.75 kobo while Africa Prudential up by 8.11 per cent to close at N6.00.

On the contrary, Unity Bank topped losers chart, dropping by 8.33 per cent to N0.55 kobo, Japaul Gold trailed with a loss of 6.67 per cent to N0.56 kobo, Neimeth International Pharmaceuticals fell by 6.04 per cent to N1.71 kobo, Flour Mills Nigeria PLC down by 4.84 per cent to N29.50 kobo, Nahco dipped by 4.55 per cent to N2.10 kobo.

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