Large cap stocks drive Nigeria’s market to open week on positive note
…investors gain N185bn
Nigeria’s stock market opened this week on a positive note, gaining N185billion, thanks to largely capitalized stock like Dangote Cement Plc, GTBank Plc, Lafarge Africa Plc, Zenith Bank Plc and UBA Plc.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) printed higher by 1.46 percent at the close of trading session on Monday July 27. The stock market’s negative returns this year moderated to -7.67percent.
The NSE ASI increased to 24,783.61 points from preceding trading day’s low of 24,427.73 points, while the value of listed stocks on the Bourse increased to N12.928trillion from N12.743 trillion, up by N185billion.
In 4,336 deals, investors exchanged 169,998,011 units valued at N2.385billion. Flour Mills, Lafarge Africa, FBN Holdings, GTBank and UBA were actively traded stocks on the Bourse.
The shares of Dangote Cement Plc gained most after moving from day open low N134.2 to N141.8, up by N7.6 or 5.66percent. GTBank also went up from N21.65 to N23.3, adding N1.65 or 7.62percent.
Lafarge Africa Plc advanced from N10.95 to N12, adding N1.05 or 9.59percent. Zenith Bank Plc rallied from N15.5 to N15.9, adding 40kobo or 2.58percent; while UBA advanced from N6 to N6.15, up by 15kobo or 2.50percent.