Stock market in bullish start on Monday, gains N178bn
The nation’s bourse reopened new trading week on Monday upbeat with the market capitalisation rebounding by N178 billion.
The market capitalisation which opened at N20.081 trillion rose by 0.89 per cent to close at N20.259 trillion.
Also, the All Share Index rose by 340.48 points or 0.89 per cent to 38,722.87, from 38,382.39 on Friday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Stanbic IBTC Holdings, BUA Cement, Julius Berger, Ardova Plc and UACN.
Market sentiment was positive with 26 gainers against eight losers.
Julius Berger and Stanbic IBTC Holdings dominated the gainers’ chart in percentage terms, gaining 10 per cent each to close at N18.70 and N144 per share, respectively.
UACN followed with a gain 6.67 per cent to close at N8 per share.
John Holt rose by 6.52 per cent to close at 49k, while International Breweries appreciated by 5.88 per cent to close at N5.40 per share.
On the other hand, Champion Breweries led the losers’ chart in percentage terms with a loss of 8.20 per cent to close at N2.24 per share.
Jaiz Bank followed with a loss of 4.48 per cent to close at 64k, while Japaul Gold and Ventures declined by 4.08 per cent to close at 47k per share.
Consolidated Hallmark Insurance dipped 3.23 per cent to close at 30k, while Learn Africa shed 2.73 per cent to close at N1.07 per share.
A breakdown of the activity chart shows that transactions in the shares of Union Bank of Nigeria topped the activity chart with 79.89 million shares valued at N423.44 million.
Guaranty Trust Bank followed with 36.129 million shares worth N1.124 billion, while FBN Holdings traded 33.29 million shares valued at N242.46 million.
Zenith Bank sold 25.003 million shares worth N562.47 million, while Transcorp transacted 24.06 million shares valued at N19.45 million.
In all, the total volume of trades declined by 4.6 per cent to 277.24 million shares worth N3.05 billion exchanged in 4,299 deals.
This was in contrast with 290.62 million shares valued at N4.02 billion transacted in 4,311 deals on Friday.
(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
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
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.”
World
Mother of Henry Nowak’s killer jailed for removing weapon from murder scene
Mr Digwa was sentenced to life imprisonment with a minimum term of 21 years for Mr Nowak’s murder.
Heading 4
Six alleged Nigerian fraudsters targeting UK citizens arrested over online fraud
The suspects, aged between 20 and 34, were arrested in Asaba, Delta State, on July 4.
Hot news Home top
Two Anambra men to die by hanging for raping teenage girl to death
The prosecution counsel said the victim was rushed to a hospital on police instruction but was confirmed dead on arrival.
Economy
 Naira ends week stronger with 0.9% gain against dollar at official market
Data published on Friday by the Central Bank of Nigeria (CBN) showed the local currency gained N1.34 compared with Thursday’s closing rate of N1,381.52 per dollar.
States
Niger: Police rescue two suspected phone thieves from mob
He identified the suspects as Hassan Abdullahi, 20, and Khalifa Bashir, 22.Â
Heading 5
Court of Appeal nullifies Electoral Act provisions on parties’ primary election, membership register
Zenith Party argued that the disputed Electoral Act provisions unlawfully interfered with the internal affairs of political parties.Â
