Equities investment increases by N193 billion

Following sessions of low liquidity, poor volume and apathy in the Nigerian Stock Exchange (NSE), a reversal was recorded on Monday as equities investors worth increased by N193 billion.

Market capitalisation the performance tracker of investors worth improved 2.21 percent or N192.7 billion to close at N8.908 trillion. This is in contrast to N33 billion lost on Friday, when market cap closed N8.715 trillion.

The All Share Index also grew by 557.68 points or 2.21 percent against 93.38 points or 0.37 percent shed previously to close at 25,189.37.

The day’s gains were preceded by increases across major market sub sectors. The market indexes showed all sectors recorded increases except the consumer goods index (-0.04 percent) and the insurance index (-0.15 percent)

Market activity measured by turnover and value traded however closed positive.

The volume of shares traded in 3,054 deals closed higher with a total of 211.8 million shares worth N1.41 billion. This is in contrast to a turnover of 171.61 million shares worth N1.11 billion transacted in 2,846 deals in previous session.

Wapco topped the gainers’ chart with a gain of 10.24 percent to close at N50.71 per share.

Diamond Bank added 5.56 percent to close at 95 kobo and Stanbic garnered 4.98 percent to close at N6.09 per share.

ETI gained 4.93 percent to close at N7.45 and Union Bank increased by 4.84 percent to close at N4.98 per share.

On the other hand, Nascon recorded the highest loss of 4.91 percent to lead the loser’s chart having closed at N7.36 per share.

It was trailed by Nestle which lost 4.90 percent to close at N713.50 and NPPF Microfinance Bank dropped 4.27 percent to close at N1.12 per share.

Fidson lost 4 percent to close at 96 kobo and Portland Paints depreciated by 3.70 percent to close at N1.82 per share.