The market indices of the Nigerian Stock Exchange (NSE) on Monday appreciated by marginal growth of 0.03 per cent due to cautious trading. This is coming just as investors await the outcome of the 2017 maiden edition of the Monetary Policy Committee (MPC) meeting.
The upturn was largely boosted by value appreciation recorded in some medium and large capitalised stocks which includes Oando, Guinness, Total, Nigerian Breweries and GSK. Consequently, the All-Share Index appreciated by 7.83 points or 0.03 per cent to close at 26,231.37 compared to 26,223.54 recorded on Friday.
Also, the market capitalisation rose by three billion naira or 0.03 per cent to close at N9.025 trillion as against N9.022 trillion achieved on Friday. Total led the gainers’ table for the day, gaining N6 to close at N287 per share. Nigerian Breweries followed with a gain of N2.44 to close at N144.50 and Guinness appreciated by N1.50 to close at N68.50 per share.
GlaxoSmithKline gained 25k to close at N16, while Oando added 18k to close at N4.75 per share. On the other hand, Nestle recorded the highest loss leading the losers’ table with a loss of N25 to close at N720 per share. Forte Oil trailed with a loss of N2.62 to close at N63.88, while Cadbury was down by 13k to close at N9 per share. Guaranty Trust Bank dipped 6k to close at N23.90 and Honey Well Flour Mills also dropped by 6k to close at N1.18 per share.
United Bank for Africa emerged the most traded equity with a turnover of 41.26 million shares worth N214.33 million. Access Bank followed with an exchange of 30.89 million shares valued at N216.29 million, while Presco traded 23.09 million shares worth N1.02 billion. Diamond Bank sold 21.74 million shares valued at N23.41 million and Zenith Bank tradef16.05 million shares worth N255.94 million. NAN reports that investors bought and sold 228.59 million shares valued at N2.58 billion exchanged in 3,228 deals against 203.19 million shares worth N 2.02 billion in 2,804 deals on Friday.