Equity trading reopens on positive trend on NSE

Equity transactions on the Nigerian Stock Exchange (NSE) on Monday reopened for the week on a bullish note, with some blue chips sustaining a price rally. Cadbury topped the gainers’ table, gaining N3.38 to close at N41.28 per share. UACN came second on the gainers’ chart with N1.21 to close at N36.73, while Julius Berger rose by N1.01 to close at N44 per share.
Guinness went up by 85k to close at N129 and Nigerian Breweries appreciated by 80k to close at N145.95 per share. Consequently, the NSE All-Share appreciated by 146.56 points or 0.47 per cent, to close at 31,195.93 against the 31,049.37 achieved on Friday.
Also, market capitalisation, which opened at N10.360 trillion, rose by N50 billion or 0.48 per cent to close higher at N10.410 trillion.
On the other hand, Mobil led the losers’ chart, dropping N8 to close at N153 per share.
Presco followed with a loss of N1.53 to close at N29.24, while Ashaka Cement dipped 60k to close at N17.90 per share. PZ Cussions lost 56k to close at N27.43, while Ikeja Hotels decreased by 35k to close at N4 per share. In all, a total of 466.162 million shares valued at N5.04 billion were exchanged in 5.601 deals.
NAN reports that this was against a turnover of 601.337 million shares worth N7.46 billion achieved in 4,713 deals on Friday. The Financial Services Sector sustained its leading position as the toast of investors with 426.27 million shares worth N3.71 billion in 3,092 deals. The Banking sub-sector drove activities in the sector, accounting for 251.56 million shares valued N2.88 billion achieved in 2,282 deals.