NSE market indices rallied by 0.34% on NB price growth

The Nigerian Stock Exchange (NSE) market indicators resumed trading on Monday on a positive posture, appreciating by 0.34 per cent due to gain recorded by Nigerian Breweries.

The News Agency of Nigeria (NAN) reports that the All-Share Index rose by 84.58 per cent to close at 25, 249.49, compared with the 25,164.91 achieved on Friday.

Similarly, the market capitalisation which opened at N8.709 trillion inched N29 billion to close at N8.738 trillion due to price appreciation by some highly capitalised stocks.

NAN reports that Nigerian Breweries led the gainers’ table, growing by N4.81 to close at N119.81 per share.

Market analysts attributed Nigerian Breweries price growth to the 2016 audited results being expected in the market by investors this week.

It was followed by PZ with a gain of N1.21 to close at N14.60 and NASCON appreciated by 32k to close at N7.35 per share.

Guinness Nigeria gained 15k to close at N61.10, while UAC Property added 5k to close at N1.99 per share.

On the other hand, Forte Oil topped the losers’ table, shedding N2.97 to close at N56.24 per share.

UACN trailed with a loss of 71k to close at N13.64 and International Breweries lost 18k to close at N15.97 per share.

FBN Holdings also depreciated by 13k to close at N3.17, while NAHCO declined by 22k to close at N2.45 per share.

United Capital was the most active in volume shares, exchanging 16.69 million shares worth N63.45 million.

Zenith international Bank followed with an account of 16.09 million shares valued at N241.33 million and Fidelity Bank traded 11.39 million shares worth N9.29 million.

Staco Insurance exchanged 10 million shares worth N5 million, while International Breweries sold 7.16 million shares valued at N113.83 million.

In all, investors staked N285. 67 million on 110.02 million shares exchanged in 2,160 deals, against the 480 million valued at N1.98 billion transacted in 2,713 deals.