Nigerian Stock Exchange resumes after Democracy Day

Salamatu Ejembi, Lagos

The Nigerian stock exchange resumed activities for the week after the democracy day holiday on a positive note.

The all share index and the market capitalisation both closed with a 0.73 per cent gain.

While the all share index closed at 29,276.59, gaining 212.07 basis points against Friday’s closing of 29,064.52, the market capitalisation closed at 10,121 trillion Naira, gaining 73 billion Naira when compared to Friday’s closing of 10,048 trillion Naira.

Investors traded 8.33 million shares valued at 7.59 billion Naira in 6,259 deals.

At the close of Tuesday’s activities, 29 stocks appreciated, 17 depreciated, while all other stocks remained unchanged.

The top three gainers are;

GAINERS

Topping the gainers chart is AXAMANSARD INSURANCE PLC which closed at N2.08 per share, gaining 18 kobo or 9.47 per cent.

FBN HOLDINGS PLC followed with a closing price of N5.28 per share, 39 kobo or 7.98 per cent gain from previous closing price of N4.89 per share.

While CEMENT COMPANY OF NORTHERN NIGERIA PLC gained 26 kobo or 5 per cent to close at N5.46 per share as against Friday’s closing price of N5.20 per share.

However, the top three losers after the close of Tuesday’s activities are;

LOSERS

With a closing price of N370.50 per share, SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD fell by N19.50 or 5 per cent when compared to Friday’s closing price of N390 per share.

While 7-UP BOTTLING COMPANY PLC fell by N5.24 or 4.99 per cent when compared to previous closing price of N104.99 per share closing today at N99.75 per share.

Then NIGERIAN ENAMELWARE PLC fell by N1.46 or 4.98 per cent to close at N27.87 as against previous closing price of N29.33 per share.

Meanwhile, MRS OIL NIGERIA PLC presented its facts behind the figures today at the NSE where it gave its financial highlights from 2015 to date, dividends and Return on Equity analysis, financial forecast and strategic outlook for the year 2017.

The presentation made by the Managing Director, MRS Nigeria Plc, Mr Andrew Gbodume, assured shareholders and future investors that “despite the many risk factors the industry is facing, payment of dividends remains a priority.”

The company also promised to look into allegations that some of their filling stations adjust the pumps to less than a litter for the price of a litter at the close of official hours.

The general public were encouraged to report any filling station that demand for extra charges when selling into kegs and jerry cans.

MRS OIL NIGERIA PLC which has retained its closing price of N39.03 per share for a while now plans to maintain steady revenue growth, reduce margin, improve cost efficiency, build strong financial position, invest on high Net present value projects and excel in their operations in this year 2017.

Executives from the company also sounded the closing gong signifying the close of Tuesday’s activities.

Mercy Chukwudiebere