Price appreciation drives market growth as NGX opens August with N30 billion gain
The Nigerian stock market opened trading for the month of August on Monday with a growth of N30 billion.
Specifically, the market capitalisation which opened at N20.083 trillion increased by N30 billion or 0.15 per cent to close at N20.113 trillion.
Also, the All-Share Index inched higher by 57.64 points or 0.15 per cent to close at 38,604.72 from 38,547.08 achieved on Friday.
The positive performance of the market was driven by price appreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications, Julius Berger, Unilever Nigeria, NASCON Allied Industries and NPF Microfinance Bank.
Julius Berger led the gainers’ chart in percentage terms with 8.89 per cent to close at N24.50 per share.
NPF Microfinance Bank followed with eight per cent to close at N1.89, while Regency Alliance Insurance went up by 7.14 per cent to close at 45k per share.
Linkage Assurance rose by 6.67 per cent to close at 64k, while Mutual Benefits Assurance gained 5.41 per cent to close at 39k per share.
On the other hand, Eterna led the losers’ chart in percentage terms by 10 per cent to close at N6.39 per share.
Neimeth International Pharmaceuticals followed with a decline of 9.71 per cent to close at N1.58, while Tripple Gee & Company lost 9.09 per cent to close at 90k per share.
Dangote Sugar Refinery lost 5.41 per cent to close at N17.50, while Lafarge Africa shed 5.02 per cent to close at N21.75 per share.
However, the total volume of trades traded dipped 36.9 per cent to 244.29 million shares valued at N1.91 billion exchanged in 4,609 deals.
This was against a total of 387.13 million shares worth N3.82 billion traded in 4,700 deals on Friday.
Transcorp topped the activity chart with 40.26 million shares valued at N40.01 billion.
C&I Leasing followed with 26.09 million shares worth N12.26 million, while FCMB Group traded 17.72 million shares valued at N55.72 million.
Oando traded 11.76 million shares valued at N57.24 million, while Sovereign Trust Insurance transacted 8.22 million shares worth N2.19 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Faith
Cleric seeks divorce, accuses wife of stripping him naked in church, leaking his secrets
The cleric accused his wife of abandoning their only child and travelling to Libya, where she has resided for two years.
Lagos
Lagos man remanded in prison custody for raping daughter
The Ikeja Chief Magistrates’ Court on Friday remanded a 45-year-old man, Samson Adedokun, in prison custody for defiling his 16-year-old daughter.
Lagos
Driver arrested for stealing N2.5 million minibus
The Lagos police command on Friday arraigned Muyiwa Edun, 40, before the Ikeja Chief Magistrate’s Court for stealing an N2.5 million Suzuki minibus.
Lagos
Police intercept bags of cannabis at Lagos jetty
The police command in Lagos says it intercepted some bags of substances, suspected to be cannabis, at a Jetty in the Ojo area of Lagos and arrested a suspect.
Anti-Corruption
Court dismisses money laundering charge against former AGF Adoke
On Friday, the Abuja Division of the Federal High Court dismissed EFCC’s money laundering charge filed against former attorney general Mohammed Adoke.
Economy
Court okays Nigerian’s plea to amend $150 million suit against Google, GoDaddy.Com
Upon resumed hearing, Mr Ekpenyong, who appeared with Joel Awoke and Jude Otakpor, informed the court that the suit was for mention.
