Nigerian Equities Market Opens on Positive Note

The Nigerian equities market started the week on positive note Monday as the Nigerian Stock Exchange (NSE) All-Share Index rose 0.07 per cent to close at 37,651.89 compared with the bearish performance last week.

However, the bullish opening is fragile as may be unsustainable given the fact that 19 stocks appreciated while 27 depreciated. But for Dangote Cement Plc that was among the price gainers, the market would have actually closed lower.

C & I Leasing Plc led the price gainers, chalking up 9.7 per cent trailed by First Aluminium Plc with 7.8 per cent. Champion Breweries Plc, NAHCO Plc and LASACO Insurance Plc added 7.4 per cent, 6.3 per cent and 5.8 per cent respectively.

Conversely, Unity Bank Plc led the price losers with 9.01 per cent, trailed by Multiverse Mining and Exploration Plc with 8.3 per cent. DN Tyre Plc, NASCON Allied Industries Plc and Jaiz Bank Plc shed 6.9 per cent, 5.2 per cent and 4.5 per cent in that order.