By Peter Egwuatu
Equities market on the Nigerian Stock Exchange, NSE opened today (Monday) on a positive note as investors gained N47 billion.
Specifically, the NSE market capitalisation which represents equity market value rose by not less than N47 billion to close at N15.303 trillion from N15.256 trillion it closed on Friday.
Similarly, the NSE All Share Index, ASI also rose by 0.3 percent or 92.04 points to close at 29,710.56 points from 29,618.52 points.
The gains in market capitalisation and ASI were fuelled by gains recorded by 22 companies as against 12 that declined. Specifically, Law Union up by 10 percent or N0.05 to close at N0.55 per share from N0.50 per share. It was followed y Total Nigeria which surged by 9.35 percent or N10.00 to close at N117 followed by Cadbury Nigeria up by 8.5 percent to close at N10.85. Caverton inched up by 6.87 percent to close at N2.80 followed by Jaiz Bank which garnered 6.15 percent to close at N0.69.
On the other hand, NCR Nigeria led the losers’ chart dropping by 9.88 percent to close at N3.65 followed by Nestle which nosedived by 6.12 percent to close at N1, 380. Unity Bank declined by 5.80 percent to close at N0.65. Oando depreciated by 4.86 percent to close at N3.52 and Courtville nosedived by 4.17 percent to close at N0.23.
Meanwhile, activity level was mixed as volume traded fell 17.9 percent to 266.9million units while value traded rose 17.7 percent to N4.2billion. Access Bank (37.8million units), Zenith Bank (35.0million units) and Guaranty Trust Bank (33.6million units) led the most traded stocks by volume while Guaranty Trust Bank (N1.1 billion), Zenith Bank (N790.4 million ) and Dangote Cement (N439.9 million) led by value.
Sector performance was impressive as five of the six sectors under coverage ended the day in the green. The Consumer Goods Index was the lone loser, down 3.1 percent on the back of sell-offs in Nestle (-6.1 percent) and Unilever (-2.7 percent). On the flip side, the Industrial Goods (2.0 percent) and Banking (1.2 percent) Indices led the bulls, following buying interest in WAPCO (3.5 percent ), Guaranty Trust Bank (1.5 percent ), Zenith Bank (2.1 percent ) and ETI (2.0 percent ). Meanwhile, gains in Total Nigeria (9.4 percent), WAPIC (5.7 percent) and Law Union (10.0 percent) buoyed performance in the Oil & Gas (0.3 percent) and Insurance (1.1 percent) Indices. Similarly, the AFR-ICT advanced 0.8 percent on the back of price appreciation in MTN Nigeria (1.3 percent ).