Equities market begins week with slight N9bn profit

Investors in the Nigerian equities market gained N9 billion at the close of trading on Monday.

This followed the surge in the share prices of stocks such as Premier Paints, Universal Insurance and Daar Communication, among others, on the trading floor.

The benchmark All-Share Index (ASI) increased to 165,384.63 points from the 165,370.4 points recorded the previous trading day.

After five hours of trading at the capital market, the equity capitalisation surged to N106.16 trillion from N106.15 trillion posted by the bourse on Thursday.

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The market breadth was negative, with 29 stocks advancing, 44 declining, and 75 remaining unchanged in 55,374 deals.

A total of 762,751,366 shares were traded, valued at N18.4 billion.

Premier Paints, Universal Insurance and Daar Communication led the gainers’ chart with 10%, 10% and 9.92% growth each in share prices, respectively, to close at N11.00, N1.32, and N1.55 per share, up from the previous N10.00, N1.20, and N1.41 per share.

Omatek, Union Homes, and Mansard led other price decliners with a 10.00%, 9.96% and 9.94% dip each in share price to close at N2.70, N85.40, and N14.31 per share, down from the previous N3.00, N94.85, and N15.89 per share

On the volume index, Tantalizers led trading with 88 million shares in 759 deals, followed by Zenith Bank, which traded 40 million shares in 2,307 deals.

Veritas Kapital traded 39 million shares in 655 deals.

On the value index, Zenith Bank traded stocks valued at N2.8 billion in 2,307 deals, followed by Guaranty Trust Holding Co, which traded equities worth N1.4 billion in 1,975 deals.

Aradel traded shares valued at N1.1 billion in 960 deals.

By: Babajide Okeowo

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