Stock Market Kicks Off On The Positives

By Ikenga Chronicles December 6, 2016

This week poses to be a positive one in the Nigeria Stock Exchange (NSE) after it recorded a marginal gain of 0.008 in the overall market performance on Monday.

This is followed by the gain in the market which ended last week Friday on a positive note after taking advantage of the low prices of stocks.

However, the All All-Share Index closed at 25,743.03 index points which represents a gain of 0.008 per cent against 25.740.83 recorded the previous day.

There was no improvement at the market capitalisation having recorded N8.855 trillion, same with the N8.855 trillion that was recorded the previous day while there was an income of 175.05 million shares exchanged in 3,048 deals.

Activities in the shares of both Zenith Bank Plc and FBNH Plc produced an  active premium sub- sector with 44.5 billion shares exchanged by investors in 473 deals.

GTB Plc and Fidelity Bank Plc through the activities of shares among other financial sectors ensured a turnover of 40.07million shares in 820  deals.

Outside the banking sector, Forte Oil Plc leads the gain chart with 10.24 per cent to close at N71.94 per share, followed by Total Oil Plc with 10.11 per cent to close at N276.15 per share while Oando Plc gained 4.70 per cent to close at N7.80 per share.

On the negative gain, Guinness Nigeria Plc led with a drop of 9.74 per cent to close at N80.33 per share and followed by Vitafoam Plc with a loss of five per cent to close at N2.28 per share while Red Star Express Plc dropped by 4.94 per cent to close at N4.23 per share.

The number of gainers at the close of trading session was 15 while decliners closed at 23.

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