Stock market opens week on a positive note, up by 0.14%

Nigeria’s equities market opened this week on a positive note, rising by 0.14 percent at the close of trading session on Monday February 28.

The record positive close on Monday helped push up the market’s record increase in February by 1.65percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) rose from 47,328.42 points to 47,394.53 points. The market’s positive return year-to-date (YtD) increased further to 10.95percent.

Market watchers had expected a tepid session to start off the week, noting that investors will take positions in names that have seen price declines in recent sessions.

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Increased buy side activities pushed the value of listed stocks on the Nigerian Bourse to increase by N36billion, from a low of N25.507trillion to N25.543trillion.

In 5,434 deals, investors exchanged 300,762,671 units valued at N2.771billion.

FCMB Group, Transcorp, Zenith Bank, RT Briscoe and ETI were actively traded stocks on the Bourse.

Linkage Assurance led the gainers league after its share price moved up from preceding day low of 50kobo to 55kobo, up by 5kobo or 10percent; followed by Royal Exchange which increased from N1.25 to N1.37, up by 12 kobo or 9.60 percent.