Equity market opens bullish, gains N10bn

Trading activities on the floor of Nigerian Exchange on Monday opened on a bullish note, appreciating by N10 billion as gains recorded in the   small and  medium stocks lifted market during the day

Market capitalisation of listed equities increased by  0.15 percent to N62.861 trillion from N62.851 trillion it closed on Friday.

The NGX All Share Index also appreciated by 16.68 basis points to 102370.36 points from 102353.68 points reported the previous day.

The market was driven by gains in the shares of Oando Plc, Transnational Corporation of Nigeria, Zenith Bank, Wapco, Caverton Business Solutions, SCOA , Universal insurance and 25 others firms.

The year to date return stood at -054 per cent as 25 companies closed in red against 32 firms that took positive direction.

An analysis of the investment showed that Caverton Business Solutions led gainers table with 10 per cent to close at N2.42 per unit, Wapic Insurance followed with a gain of 9.91 per cent to close at N2.44 per share, SCOA Plc added 9.98 per cent to 9.68 per cent to close at N2.72 per share, UPDC and Universal Insurance gained 9.52 per cent each  to close at N1.84 and N0.69  per share respectively.

On the contrary, Eunisell topped decliners chart, dropping by 9.99 per cent to N14.06 per unit, JohnHolt trailed with a loss of 9.63 per cent to close at N9.20 per unit, NSL Tech dipped by 8.99 per cent to close at N0.81 per share, Honey Well Flour declined by 7.58 per cent to close at N9.15 per unit, PZ Cusson fell by 6.00 per cent to close at N23.50 per unit.