The Nigerian equities market on Monday recorded its first gain of the year after shedding 13 per cent last week. The market had recorded persistent decline in the first trading week of the year, leading to a dip of N1.49 trillion in capitalisation.
However, the trend was reversed on Monday following gains by Dangote Cement Plc, Seplat Petroleum Development Company Plc among others. The Nigerian Stock Exchange (NSE) All-Share Index appreciated by 0.30 per cent to close at 30,234.72, while capitalisation added N30.36billion to N10.01 trillion.
Although the market appreciated, the number of losers still outstripped gainers. Eighteen stocks appreciated compared to 24 that depreciated, indicating that the bears have not completely gone out of the market. Without the gain by Dangote Cement, the market would closed negatively on Monday.
Seplat led the price gainers with five per cent to close N315 per share. Union Bank of Nigeria Plc followed with 4.9 per cent to close at N8.42 per share. NAHCO chalked up 4.9 per cent, while Dangote Cement garnered 4.8 per cent. Pharma Deko Plc and Champion Breweries Plc appreciated by 4.6 per cent and 4.4 per cent respectively.
Conversely, Julius Berger Nigeria Plc led the price losers with 9.7 per cent to close at N46.95, trailed by NEM Insurance Plc and National Salt Company of Nigeria Plc with five per cent apiece.
Only two out of the five NSE Sectorial indices appreciated. The Industrial Goods index topped with a 2.33 per cent increase while the Oil/Gas index followed with a 1.83 per cent rise. On the negative side, Banking and Consumer Goods indices dipped by 1.93 per cent and 1.91 per cent in that order while the Insurance index fell by 0.84 per cent.
Equity turnover fell compared to last Friday’s performance. Investors 327.45million shares, valued at N3.61billion in 4,530 deals.