Stock market opens in bullish trend, gains N255bn

Investment in the nation’s  stock market yesterday opened week in bullish trend following gain recorded by blue chip companies causing the  market indices to appreciate by N255 billion. Specifically the market  capitalisation of  listed equities which closed last week Friday at N13.005 trillion improved by 1.96% to N13.260 trillion, while the Nigerian Stock Exchange (NSE) All Share Index grew by 794.80 basis points or 1.96% to 41366.42 points from 40,571.62 points traded on Friday.
Investors traded 396.955 million shares worth N5.449 billion in 5446 deals against 342.886 million shares valued at N4.348 billion made in 5401 deals.
The financial service sector recorded highest volume of activities for the day, exchanging 249.189 million shares worth N3.541 billion in 2904 deals. Banking sub sector was the most active in the sector with 188.935 million shares costing N3.933 billion in 1721 deals. Zenith international Bank was investors delight in the sub sector, accounting for 74.469 million shares valued at N1.739 billion in 342 deals.
Conglomerates sector which was boosted by Transnational Corporation of Nigeria (Transcorp) followed in activity chart, recording 92.686 million shares worth N425.421 million in 550 deals.
Forte Oil led the gainers table, enhancing by N9.20 kobo to close at N99.40 kobo.  Dangote Cement followed with a gain of N8.81 kobo, while Nestle Nigeria, Julius Berger, Oando Plc and Dangote Suggar Refinery appreciated by N5.00, N2.00, N1.95 kobo and N1.50 respectively to close at N1,130.00, N71.00, N21.11 kobo and N168.00.
Total topped losers chart, shedding N9.00 to close at N171.00. Larfarge Wapco trailed with a loss of N7.00 to close at N107.00, while Flour Mills Nigeria loss N1.00 to close at N87.00. Other stocks that declined in price were Stanbic IBTC, Port Land Paint and Evans Medical which lost N0.50 kobo, N0.26 kobo, N0. 17 kobo respectively to close at N20.50 kobo, N5.25 kobo and N3.29 kobo.

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