Flour Mills, Stanbic IBTC, Seplat gains as equities at Nigerian bourse reopen with 0.84% growth


Trading opened for the week on the Nigerian Stock Exchange (NSE) on a positive note with 0.84 per cent growth following gains by some blue chips.

Seplat emerged investors delight with a gain of N62.50 to close at N687.50 to lead the gainers’ table.

Flour Mills followed with a growth of N2.20 to close at N29.40, while Stanbic IBTC gained N1.25 to close at N49.90 per share.

Forte Oil appreciated by N1.05 to close at N25.05, while Nestle added N1 to close at N1,502 per share.

Consequently, the All-Share Index rose by 309.08 points or 0.84 per cent to close at 36,946.05 as against 36,636.97 achieved on Friday.

In the same vein, the market capitalisation which opened at N13.271 trillion grew by N112 billion or 0.84 per cent to close at N13.383 trillion.

On the other hand, Total topped the losers’ chart, dropping by N16.80 to close at N183 per share.

Conoil trailed with a loss of N2.70 to close at N24.30, while Cement Company of Northern Nigeria was down by N1.35 to close at N30 per share.

Transcorp dropped by 70k to close at N6.50, while Redstar Express declined by 60k to close at N5.60 per share.

An analysis of the activity chart shows that Medview Air was the most active, trading 100.01 million shares worth N193.02 million.

Sterling Bank followed with an account of 34.03 million shares valued at N47.17 million, while United Bank for Africa traded 32.51 million shares worth N316.05 million.

Transcorp sold 29.26 million shares valued at N37.64 million, while FBN Holdings transacted 12.53 million shares worth N124.85 million.

In all, the volume of shares traded closed higher as investors bought and sold 319.40 million shares valued at N3.05 billion in 4,091 deals.

This was in contrast with a turnover of 311.36 million shares worth N3.49 billion achieved in 3,735 deals on Friday.