Nigeria Stock Exchange index up 0.12%, as Unilever, Forte Oil, 7UP top gainers

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The Nigerian stock market extended gains to 8th consecutive session on Monday as All Share Index added 0.12 percent or 39.77 basis points to settle at 33,301.43 points.

This expanded Year-To-Date return to 23 percent.

The lingering optimism in the stock market has been attributed to investors actively taking position ahead of Q2 earnings, impressive financial reports and improved macroeconomic conditions.

The new week also began with a gain of N13.7 billion in the NSE Market Capitalisation which settled at N11.477 trillion from its opening figure of N11.464 trillion.

The market breadth was however negative with 23 gainers against 26 losers. Unilever topped gainers with a 10.24 appreciation to close at N36.38, Forte Oil followed with a gain of 7.71 per cent to close at N60.50, 7up was next with an appreciation of 6.41 percent to close at N94.95 per share. Champion Breweries also grew by 6 percent to close at N2.65 and Flour Mill appreciated 5 percent to close at N26.25 per share.

Top on the day’s losers list was Oando, with a decline of 9.54 percent to close at N6.83. Oando is topping the losers chart for the second trading session in a row amidst the Securities and Exchange Commission’s (SEC) investigation of a petition by two shareholders on Friday.

Nascon Allied Industries came next on the losers chart with a drop of 4.95 per cent to close at N9.03. AIICO recorded a loss of 4.92 per cent to close at 58 kobo per share, Skye Bank declined by 4.92 per cent to close at 58 kobo while BOC Gases depreciated 4.78 per cent to close at N2.99.

Niger Insurance topped activity chart with the trade of 150.1 million shares worth N75.0 million. FBN Holdings exchanged 36 million units at N213.8 million, while FCMB sold 14.8 million shares worth approximately N18 million. UBA traded 14.2 million shares valued at N125.2 million, while Flour Mill exchanged 12.3 million shares worth N320.4 million.

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