Nigeria Stock Exchange opens on positive note

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The Nigerian Stock Exchange (NSE) opened trading for the week on Monday on a positive note with a marginal growth of 0.06 per cent.

The marginal growth was due to gains in the mid and large capitalised stocks.

Specifically, the market capitalisation which opened at N12.901 trillion, inched N8 billion or 0.06 per cent to close at N12.909 trillion.

In the same vein, the All-Share Index increased by 16.92 points or 0.06 per cent to close at 29,287.87 against 29,207.95 achieved on Friday.

Flour Mills led the gainers’ table, growing by N1.50 to close at N16.50 per share.

NASCON came second with a gain of 50k to close at N15.50, while Cadbury increased by 45k to close at N11.45 per share.

Redstar Express also garnered 45k to close at N5.40, while MTN Nigeria Communications gained 45k to close at N129.45 per share.

On the other hand, Total topped the laggards’ chart with a loss of recorded N8 to close at N24.30 per share.

Forte Oil trailed with N2.70 to close at N24.30, while GlaxosmithKline declined by N1 to close at N9.20 per share.

Nigerian Breweries lost 40k to close at N60, while Guaranty Trust Bank was down by 15k to close at N28.85 per share.

Wapic Insurance was the toast of investors accounting for 84.903 million shares worth N33.977 million.

FBN Holdings dominated trading activities with an account of 16.21 million shares valued at N100.53 million.

Zenith Bank traded 14.71 million shared worth N282.273 million, while Mutual Benefit Insurance accounted for 14.22 million shares valued at N2.85 million.

United Bank for Africa exchanged 13.51 million shares worth N81.91 million.

In all,  investors traded 216.29 million shares valued at N2.27 billion achieved in 3,206 deals.

This was in contrast with a turnover of 298.404 million shares valued at N1.83 billion traded in 3,377 deals on Friday.