Nigeria’s local bourse closed positive on Monday after two weeks of intense pressure. Investors gained N178 billion as market capitalization closed at N20.259 trillion higher than the N20.081 trillion recorded on Friday.
The All Share Index stood at 0.86 per cent or 340.48 basis points to close at 38,772.87 from Friday’s 38,382.39.
The industry goods component was the major factor behind the renewed positive sentiment. This is largely attributed to the 0.08 per cent rebound on BUA Cement share price. The day’s transactions ended with 26 equities appreciating while 8 declined.
Julius Berger paints and Stanbic IBTC led 24 other advancers as both equities gained 10 per cent each on its share price to close at N18.70 kobo and N44.00 respectively.
UAC Nigeria followed with 6.67 per cent to close at N8.00 per share.
Eight equities were on the decliners chart, as Champion Breweries led with a loss of 8.20 per cent to close at N2.24 kobo per share.
Jaiz Bank Plc followed with a 4.48 per cent loss to close at N0.64 kobo per share while Japaul Good had a 4.08 per cent loss to close at N0.47 kobo per share. Union Bank Plc was the major contributor to the 206, 438 million shares traded in 2, 874 deals.
Suzan O
