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Market trends northward with large volume transaction on CWG

By The Rainbow

The Nigerian Stock Exchange regained breadth on Monday with 32 advancers  led by TRANSCORP and CI LEASING as against 22 counters  topped by CONOIL and NAHCO.

The market launched the week on a positive note with the NSE-All Share Index northward to close 0.45% higher.

Market Capitalisation which opened trading at N12.117 trillion appreciated by N55 billion or 0.45 per cent to close at N12.172 trillion.

Both volume and value of transactions received a boost as they notched higher by 128.53% and 108.22% relative to the last trading day figures as the banking and the consumer goods stocks accounted for the bulk of market volume and value today as usual. A Large volume was also noticed on CWG-Consumer Warehouse Group-(a newly listed company) which totaled 96.15mn, equivalent to NGN539mn in value.

Most major sectors traded positive today save for the banking and conglomerate sectors which traded southward. On the basis of Meri Equities indices, the consumer goods sector led the gainers with 2.24% followed by the oil and gas and insurance sector which added 1.03% and 0.65% respectively.

The market recorded a turnover of 862,668,926 ordinary shares valued at N5.7 billion in 5,638 deals.

Transcorp led 32 other stocks on the gainers table by 10.19 per cent or N0.37 kobo per share to close at N4.00 kobo per share, CILeasing gained 8.00 per cent or N0.04 kobo to close at N0.54 kobo and Oando gained 6.75 per cent or N0.81 to close at N12.81 kobo per share.

Conoil led on the losers' table by shedding five per cent or N3.80 kobo per share to close at N72.20 kobo per share, NAHCO lost five per cent or N0.30 kobo to close at N5.70 kobo per share and AG Leventis shed 4.88 per cent or N0.88 kobo per share loss to close trading for the day at N1.54 kobo per share.