NSE opens the week with 0.33% growth on Seplat, a gain for Lafarge Africa

Trading in the domestic stock market started the week positively, rising 0.33 percent due to interest purchases in Seplat, Lafarge Africa and Tier-1 shares of the bank.

Consequently, the index of all stocks on Monday rose 131.82 points or 0.33 percent, to 40,571.67, compared to 40,439.85 recorded on Friday.

Accordingly, the loss from month to day was moderate to 4.3 percent, while the profit from year to year increased to 0.80 percent.

Also, the market capitalization that opened at N21,155 trillion increased by N69 billion, or 0.33 percent, to N21,224 trillion.

Gains are driven by price appreciation in large and medium-sized stocks, including; Seplat, Japaul Gold and Ventures, Mutual Benefit Insurance, AIICO Insurance and Mining and Exploration Multiverse.

Market sentiment, measured by market width, was positive for 31 winners compared to 13 backlogs.

Seplat led the gain on the scale in percentages, improving 10 percent to close to 545.50 per share.

Japaul Gold followed with 9.86 percent, closing at 78,000, while Mutual Benefits Assurance rose 9.52 percent, to 46,000 per share.

AIICO Insurance rose 9.26 percent to N1.18, while Multiverse Mining and Exploration valued at 9.09 percent, closing at 24,000 per share.

Conoil and the Royal Exchange, on the other hand, topped the losers scale in percentages, losing 10 percent each, closing at N18.90 and 27,000 per share, respectively.

RT Briscoe followed with a loss of 9.09 percent, closing at 20,000 per share.

Consolidated Hallmark cut 8.70 percent to close at 42,000, while Sovereign Trust Insurance missed 7.69 percent to close at 24,000 per share.

However, the total volume of stock trading decreased by 47.9 percent, as investors bought and sold 206.24 million shares worth N2.16 billion, which are traded in 4,264 trades.

That contrasts with a total of 395.62 million shares valued at N5.19 billion traded in 5,321 transactions on Friday.

Transactions in shares of Zenith Bank were at the top of the scale of activities with 21.51 million shares worth N539.62 million.

This was followed by mutual benefit insurance with 15.003 million shares valued at N6.81 million, while the UACN asset development company traded with 14.83 million shares valued at N12.08 million.

Fidelity Bank sold 14.72 million shares worth N35.94 million, while United Capital operated 13.12 million shares worth N77.84 million.

Vanguard News Nigeria

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