Nigerian stocks made a modest advance on Monday, extending a measured but steady rebound that began last week by 0.10 per cent in a session where trade volume bettered that of Friday by nearly double.

A scramble for MTN’s shares and investors’ interest in those of UAC and tier-2 bank FCMB and were instrumental in the bull run.

Only the oil and gas index declined of the five sectorial indices tracked by the exchange, falling 0.22 per cent, the industrial index saw no movement.

Trade ended with a positive breadth with 18 gainers reported against 14 losers.

The benchmark index lifted by 40.01 points to 38,848.02, while market capitalisation closed at N20.330 trillion.

Nigerian stocks have shed 3.53 per cent year to date.


FCMB appreciated by 9.77 per cent to close at N2.92. UPL enlarged by 9.35 per cent to end trade at N1.17. NNFM went up by 9.35 per cent to N5.85. Honeywell Flour rose to N1.30, notching up 9.24 per cent in the process. Mutual Benefits completed the top 5, climbing by 8.82 per cent to N0.37.


Fidelity led losers, declining by 12.50 per cent to close at N2.10. FTN Cocoa shed 10 per cent to end today’s trade at N0.45. Unity Bank fell to N0.59, losing 7.81 per cent. UACN Property slumped to N0.75, recording 5.06 per cent depreciation. Jaiz Bank closed at N0.61, going down by 4.69 per cent.


In all, 508.637 million shares estimated at N32.101 billion were traded in 4,434 deals.

MTNN was the most active stock with 181.732 million of its stocks worth N29.677 billion traded in 96 deals. Fidelity Bank shares of 106.876 million units, priced at N224.749 million, exchanged hands in 368 transactions. FBN Holdings had 35.019 million shares valued at N267.176 million traded in 264 deals. UACN traded 20.429 million shares estimated at N209.024 million in 154 transactions. Zenith traded 18.168 million shares valued at N392.777 million in 421 deals.


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