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Nigerian Stock Exchange On Steriods, Stock Investors Gain N641 Billion on Monday

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Stock Investors Gained N641 Billion on Monday

Nigerian Stock Exchange continues its bullish run on Monday despite the ongoing economic uncertainty eroding the real sector of the economy.

Nigerian stock investors gained N641 billion during the trading hours as the market capitalisation of listed equities rose from N16.207 trillion it closed on Friday to N16.848 trillion on Monday.

The NSE All-Share Index appreciated by 3.96 percent or 1,226.88 basis points to 32,243.05 bps, up from 31,016.17 it closed on Friday.

Investors traded a total of 636.010 million shares worth N8.244 billion in 7,210 transactions, the years in almost five years in a single day.

In terms of volume traded, Zenith Bank led with 70.223 million shares worth N1.664 billion. First Bank, Access Bank, UBA and Fidelity Bank followed with 67.652 million, 58.020 million, 48.533 million and 35.191 million valued at N474.567 million, N500.230 million, N410.400 million and N97.472 million, respectively.

While Dangote Cement Plc led the chart of the most profitable stocks for the day with a profit of N10.5 or 6.02 percent to close at N185 per unit. This was after Dangote Cement reported impressive third-quarter financial results last week.

MTN Nigeria added N6.1 or 4.24 percent gain to settle at N150.1 a unit share. This was followed by WAPCO, BUA Cement and GTBank’s N1.95 or 10 percent, N1.9 or 4.42 percent and N1.75 or 5.22 percent to called it a day at N21.45, N44.9 and N35.25 per shares, respectively.

On the other hand, Conoil Plc led top losers with N1.2 or 6.30 percent decline to finish at N17.85 per share. NCR, PZ, Learn Africa and Afriprud added 0.2 kobo or 10 percent, 0.15 kobo or 3.13 percent, 0.1 kobo or 8.70 percent and 0.09 kobo or 1.45 percent declines to settle at N1.8, N4.65, N1.05 and N6.11 per shares.

Source: Naija News

Is a foreign exchange research analyst, contributing author on New York-based Talk Markets and investing.com, with over a decade experience in the global financial markets.