The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are; Dangote Cement, MRS Oil Nigeria, Nigerian Aviation Handling Company , SEPLAT Energy and Oando.
On market outlook, GTI Securities Limited said: “Equity market resumes a bullish trend, as investors bargain hunting on oversold stocks. We expect profit taking to continue in the domestic market through out the week.” However, market sentiment, as measured by market breadth closed negative as 22 stocks lost, relative to 14 gainers. Livestock Feeds recorded the highest price gain of 10 per cent to close at N1.32, per share. MRS Oil Nigeria followed with a gain 9.80 per cent to close at N16.25, while Dangote Cement appreciated by 8.30 per cent to close at N270.00, per share.
NAHCO rose by 7.69 per cent to close at N8.40, while Royal Exchange appreciated by 5.56 per cent to close at 95 kobo, per share. On the other hand, Learn Africa and BUA Foods led the losers’ chart by 10 per cent each to close at N2.25 and N49.50 respectively, while Japaul Gold and Ventures followed with a decline of 9.68 per cent to close at 28 kobo, per share.GlaxoSmithKline Consumer Nigeria declined by 9.22 per cent to close at N6.40, while NASCON Allied Industries depreciated by 8.
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