Stock market gains N44bn

Stock market gains N44bn

Stock market gains N44bn

The Nigerian capital market on Monday continued its gaining spree two sessions into the signing of the budget into law by President Muhammadu Buhari. The Nigerian Stock Exchange market capitalisation rose by N44bn to close at N8.884tn from N8.840 at the close of trading on the floor of the Exchange.

The market had gained N47bn on Friday last week amid reports that the budget had been signed.

A total of 29 stocks made the gainers chart while 18 laggards were recorded.

The NSE All-Share Index took a leap by 25,828.30 basis points from 25,701.60 basis points.

A total of 559.955 million shares worth N6.441bn exchanged hands in 3,655 deals.

Unilever Nigeria Plc, Eterna Plc, United Capital Plc, Transnational Corporation of Nigeria Plc and Diamond Bank Plc emerged as the top five gainers.

Unilever shares appreciated by N3.30 (10.24 per cent) to close at N35.54 from N32.24, while those of Eterna closed at N2.90 from N2.70, gaining N0.20 (7.41 per cent).

Similarly, the share price of United Capital rose by N0.11 (6.67 per cent) to close at N1.76 from N1.65, and that of Transcorp closed at N1.12 from N1.05, gaining N0.07 (6.67 per cent).

Last on the top five category was Diamond Bank, which appreciated by N0.07 (five per cent) to close at N1.47 from N1.40.

Other gainers were: Fidson Healthcare Plc, Tiger Branded Consumer Goods Plc, Flour Mills Nigeria Plc, Ikeja Hotel Plc, Honeywell Flour Mill Plc, Zenith Bank Plc, Skye Bank Plc, FCMB Group Plc, Neimeth International Pharmaceutical Plc, Fidelity Bank Plc, UACN Plc, Guaranty Trust Bank Plc, FBN Holdings Plc, Cutix Plc, Nigerian Aviation Handling Company Plc and Nascon Allied Industries Plc.

AIICO Insurance Plc, May & Baker Nigeria Plc, Access Bank Plc, Nigerian Breweries Plc, Africa Prudential Registrars Plc, Oando Plc, Dangote Sugar Refinery Plc and Ecobank Transnational Incorporated Plc also appreciated in their share prices.

On the other hand, Glaxo Smithkline Consumer Nigeria Plc, Cadbury Nigeria Plc, Berger Paints Plc, Union Bank Nigeria Plc and Caverton Offshore Support GRP Plc were the top five losers on the stock table.

Glaxo Smithkline shares shed N1.07 (4.99 per cent) to close at N20.36 from N21.4; while those of Cadbury closed at N15.64 from N16.46, losing N0.82 (4.98 per cent.)

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