The stocks of First bank of Nigeria (FBN) holdings grew by 4.23 percent, Zenith bank by 1.72 percent and Seplat soared by 4.16 percent despite the Nigerian equities market starting December 2018 trading sessions on a negative note losing 0.27 percent on Monday.
The Nigerian bourse lost 84.41 points and N29 billion to see the all share index close at 30,789.76 points and the market capitalization at N11.243 trillion.
Monday’s trading session closed mixed with total deals grew by 7.32 percent to account for the 3,122 trades recorded in the day. Aggregate volume grew by 0.13 percent to amount to the 249.736 million equities traded while aggregate value grew by 13.62 percent to amount to N2.720 billion recorded in the day.
In the day, Jaiz bank, which its Managing director last Thursday said it will establish new branches in 4 other states in the country, recorded the most percentage growth during Monday’s trading session to close at 44kobo.
Similarly, Diamond bank which on Friday announced that it had gotten its license approved by the Central bank of Nigeria (CBN) to operate as a national bank had a swift response from the investors as the its stock grew by 9.23 percent to close the day at 71 kobo.
Sectorally, NSE 30, NSE50, Insurance, Consumer goods and Industrial goods declined by 0.14 percent, 0.24 percent, 4.51 percent, 0.72 percent and 0.03 percent respectively. While oil and Gas and Banking sector recorded 2.07 percent and 0.61 percent respectively.
Market breadth closed positive despite the decline recorded in the day as 19 stocks led by Jaiz bank, Diamond bank and Learn Africa recorded the most percentage grpwths
against 14 stocks led by Continental Reinsurance, MRS Petroleum and Axa Mansard that recorded the most percentage declines in the day.
The most traded stocks were those of First City Monument bank (FCMB), First bank of Nigeria Holdings (FBNH), and United bank for Africa (UBA).
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