Stock market opens week on positive note, gains N80bn

The domestic equity market on Monday opened on a positive note, appreciating by N80 billion as gains in the shares of Nigerian Breweries, FBNHoldings United Bank for Africa, Nigerian Breweries and others lifted trading activities.

Market capitalisation of listed equities increased by 0.14 per cent to N56.536 trillion from N56.456 trillion reported the previous day.

The NGX All Share Index also surged 138.61 basis points to 98386.60 points from 98247.09 points recorded the previous day.

As a result, year to date return went up by 31.58 per cent as 32 companies closed in green while 20 firms recorded negative performance.

An analysis of the investment showed that FCMB and Mcnichols  led gainers table with 10 per cent each to close at N8.80 and N1.87 per unit respectively. Fidelity Bank followed with a gain of 9.93 per cent to close at N14.95 per unit,  Tantalizer added 9.84 per cent to close at N0.67 per share while Flour Mills gained 9.81 per cent to close at N55.40 per unit.

On the contrary,  Berger Paint topped losers chart, dropping by 9.83 per cent to close at N21.10 per unit, Daar Communications followed with 9.33 per cent to close at N0.68 per unit, Deap Capital down by 9.09 per cent to close at N0.90 per unit, NSL Tech fell by 7.46 per cent to close at N0.62 per shares while Honey flour dipped by 5.12 per cent to close at N4.63 per unit.