At the close of transactions, the ASI gained 30.56 absolute points, representing a growth of 0.08 per cent to close at 40,150.78 points.The positive performance was also driven by price appreciation in medium and large capitalised stocks such as Ardova Plc, Presco, Flour Mills of Nigeria, Berger Paints Nigeria and Okomu Oil.Analysts at Afrinvest Limited expressed optimism that bargain hunting activities would dominate trading this week.
Market sentiment, as measured by market breadth, was positive as 28 stocks gained, relative to 24 losers. Japaul Gold and Ventures rose by 9.28 per cent to close at N1.06, while Royal Exchange appreciated by 8.70 per cent to close at 25 kobo.On the other hand, Cutix led the losers’ chart by 10 per cent, to close at N2.16 kobo. BOC Gases followed with a decline of 9.96 per cent, to close at N11.39 kobo while Caverton Offshore Support Group shed 7.07 per cent to close at N1.84 kobo.
The total volume of trades increased marginally by 0.72 per cent to 335.7 million units valued at N2.49 billion, exchanged hands in 5,338 deals.
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