NAHCO Wins United, Qatar Contracts thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Views: Visits 9 The nation’s bourse opened trading for the new week on Monday on a positive note with a growth of N59 billion, following interests in Tier 1 banks. Specifically, the market capitalisation which opened at N20.431 trillion inched higher by N59 billion to close at N20.490 trillion. Also, the All-Share Index increased by 113.99 points or 0.29 per cent to close at 39,312.74 from 39,198.75 achieved on Friday. Accordingly, the month-to-date and year-to-date losses moderated to 1.3 per cent and 2.4 per cent, respectively. The gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Zenith Bank, Guaranty Trust Bank, Okomu Oil, Africa Prudential and Lafarge Africa.
Specifically, the market capitalisation which opened at N20.431 trillion inched higher by N59 billion to close at N20.490 trillion. Also, the All-Share Index increased by 113.99 points or 0.29 per cent to close at 39,312.74 from 39,198.75 achieved on Friday. Accordingly, the month-to-date and year-to-date losses moderated to 1.3 per cent and 2.4 per cent, respectively. The gain was driven by price appreciation in large and medium capitalised stocks amongst which are Zenith Bank, Guaranty Trust Bank, Okomu Oil, Africa Prudential and Lafarge Africa. Analysts at United Capital Plc had anticipated that the bears would dominate transactions this week, amid Treasury Bills auction. We expect the overall theme of the market to tilt towards the bears, considering the anticipated NTB auction scheduled to hold later in the week.
Specifically, the All-Share Index advanced by 0.04 per cent or 16.71 points to close at 39,318.52 from 39,301.82 posted on Friday. Also, the market capitalisation increased by nine billion naira to N20.577 trillion compared with N20.568 trillion achieved on Friday. The market gain was driven by price appreciation in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Fidson Healthcare, Lafarge Africa, Africa Prudential and Guaranty Trust Bank. Analysts at United Capital Plc anticipated that profit-taking would dominate trading following gains posted by the stock market last week. This week, we expect some profit-taking on the bourse in light of the considerable price appreciation observed last week.
NGX key market indices open week with 0 04% growth naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.