Nigeria equity market rises marginally as low value stocks dominate gains
By Samuel Bankole
The Nigerian equity market rose marginally on Monday characterised by gains in low valued shares.
The main market index, All Share Index (ASI) increased by 0.08 percent to close at 40,150.78 points.
The market capitalisation of equities listed on the Nigerian Stock Exchange (NSE) increased to N20.99 trillion from N20.98 trillion as on the previous day.
The total volume traded closed with an exchange of 335.700 million units valued at N2.49 billion traded in 5,338 deals. The market breadth was positive with 28 gainers as against 24 losers.
The NSE 30 Index marginally increased by 0.06 percent to close at 1,642.10 points as against 1,641.17 points as on the previous day. Market turnover closed with traded volume of 108.03 million units.
Former Forte Oil, Ardova lead the chart of gainers with 9.8 percent gain to close at N17.95 followed by Maybaker with 9.8 percent and closing at N3.59 a share while Berger paint closed at 9.5 percent to N8.05 per share.
Both Guinness and Flour Mills of Nigeria managed 2.81 and 2.49 gains to close at N27.45 and N18.50 per share each.