As investors move to restructure ahead of full-year earnings results and dividend declarations, transactions on the equities sector of the Nigerian Stock Exchange (NSE) reopened the year on a positive note yesterday, as market capitalisation appreciated by N887 billion.
At the close of trading, the All-Share Index (ASI) increased by absolute points, representing a growth of 0.7 per cent to close at 43,026.23 points. Similarly, the market capitalisation gained N886.9 billion to close at N23.18 trillion.
The positive performance was triggered by gains recorded in medium and large capitalised stocks, including BUA Cement, Stanbic IBTC, Zenith Bank, Flour Mills of Nigeria and Ecobank TransNational lncorporated
Market sentiment, as measured by breadth, closed positive, as 18 stocks gained while16 constituted the losers’ chart. Academy Press led the gainers’ chart with 10 per cent to close at 55 kobo while Wema Bank followed, adding 9.72 per cent to close at 79 kobo. CORNERST added 8.70 per cent to close at 50 kobo. Neimeth gained 8 per cent to close at N1.89 kobo.
Ardorva, NNFM and Vitafoam emerged the day’s highest price loser with 10 per cent each to close at N12.70 kobo, N7.20 kobo and N20.25 kobo while Chams followed with 9 09 per cent to close at 20 kobo.
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