Bullish trading lifts market index

By The Citizen
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Weekly transactions on the Nigerian Stock Exchange (NSE) opened on bullish note on Monday as some blue chips reordered price gains.

The All-Share Index rose by 411.4 points or 1.07 per cent to close at 38,707.14 as against the 8, 295.74 recorded on Friday.

The market capitalisation grew by 1.07 per cent to close higher at N12.433 trillion compared with N12.301 trillion achieved on Friday.

Dangote Cement led the price gainers’ pack with N2.40 to close at N237.40 per share.

Nigerian Breweries followed with a gain of 93k to close at N145.93, while Dangote Sugar rose by 85k to close at N11.59 per share.

Zenith Bank gained 65k to close at N20.55, while FBN Holdings chalked up 59k to close at N12.58 per share.

Conversely, Guinness led the losers’ chart, shedding N6.29 to close at N162.61 per share.

Cadbury lost N4.53 to close at N86.25, while UAC Property fell by 40k to close at N19.60 per share.

Access Bank dipped 27k to close at N7.64, while Dangote Flour lost 24k to close at N9.26 per share.

The financial services sector remained the most active as Access Bank emerged the most traded equity, trading 56.79 million shares worth N437.13 million in 260 deals.

FBN Holdings followed with an exchange of 27.96 million shares valued at N344.85 million in 532 deals, while GTBank accounted for 26.09 million shares valued N621.32 million in 423 deals.