Commencing trading activities yesterday after the Eid-ul-Mawlid holiday, the stock market of the Nigerian Exchange Limited gained N116.05billion in market capitalisation primarily driven by a rally in BUA Cement Plc.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Nigerian Exchange Group , May & Baker Nigeria, United Bank for Africa and United Capital. Cornerstone Insurance went up by 8.00 per cent to close at 54 kobo, while Unity Bank appreciated by 7.32 per cent to close at 44 kobo, per share. On the other hand, University Press led the losers’ chart by 8.54 per cent to close at N1.50, per share. Cadbury Nigeria followed with a decline of 6.94 per cent to close at N11.40, while FTN Cocoa processors went down by 6.67 to close at 28 kobo, per share.
The total volume of trades declined by 8.5 per cent to 125.65 million units, valued at N1.90 billion, and exchanged in 4,188 deals.