Stock markets gains 263bn as market opens after holiday
By Philemon Adedeji
Last week Friday was the last trading week on Nigerian Exchange Limited (NGX), as federal government declared Monday, Tuesday as public holidays to celebrate EID-EL-FITR.
The NGX All share index (ASI) went up by 487.47 points representing 0.9 per cent to close at 50,126.41 index points, while the overall market capitalisation value which opened the week gained N263 billion to close trade on Friday the last trading day.
The upturn was impacted by gains recorded in medium and large capitalised stocks amongst which are Wemabank, Okomu oil, Presco Plc, Eternal Plc and 27 other stocks.
The market sentiments as measured by market breadth was positive as 3l stocks gained, relative to 27 losers.
On the gainers table, Wemabank and Okomu oil gained 10 per cent increase to close trade at N3.85 and N161.7o per share respectively.
NB emerged as the third best gainer, which appreciated by 9.98 per cent or 5.70kobo increase to close trade at N62.80, Presco and Eternal PLC rose by 9.97 per cent increase to close trade at N157.7o and N6.62 per share.
On the losers table,Oando was recorded as the highest loser which dipped by 1o per cent or 0.63 kobo to close trade at N 5.67 per share, while Transexpr followed as the the second best decliner which dropped by 9.88 per cent to close trade at No.73 per share.
Mansard went down by 7.79 per cent to close trade at N2.25 per share, Ikeja hotel depreciated by 7.14 per cent to close trade at N1.3o per share, CUTIX was recorded as the last fifth loser which declined by 6.l5 per cent to close trade at N 2.29 per share. Transaction in the share of UBN topped the activity chart which traded 263.647 million share worth 1.660 million, followed by Transcorp which traded 74.057 million share valued by 86.724 million share.
Aiico insurance transacted 24.72l million share valued at 3l.o3l million Chams transacted 28.926 million share worth 6.653 million and lastly, Accesscorp traded 23.804 million share valued at 229.5l3 million.
