Equity Market Records over N14tn In Market Capitalization.

In the equity market, the week started on a bullish note as major market indicators increased. The market capitalization rose above N14tn to N14.027tn after gaining 0.7%.

The Nigerian Stock Exchange All-Share Index which appreciated by 1.10% to closed at 42,187.64 basis point on Friday, also increased by 0.7% or 294.86 basis point to close at 42,482.48 basis points on Monday.

The activity chart was led by the banking subsector accounting for 28% of total turnover traded.

In all, a total of 113.634mn shares valued at N1.313bn were traded in 1,277 deals in the subsector.

Volume in the subsector was driven by trading in the shares of United Bank for Africa Plc, Guaranty Trust Bank Plc, Zenith International Bank Plc and Diamond Bank Plc.

408.517 million Shares worth N7.570bn in 5,882 deals were exchanged by investors on Monday with 23 stocks recording gains and 36 recording losses.

The gainers were topped by Oando Plc after rising by 6.91% or N1.89 to close at N29.25 per share. It was followed by Transitional Corporation of Nigeria with 6.54% or 31 kobo gain to close at N5.05 per share.

Mobil Nigeria Plc and Total Nigeria Plc also gained 5% each to close at N 137.55 and N179.60 per share, respectively, while University Press Plc appreciated by 4.92% or 22 kobo to close at N4.69 per share.

On the flipside, Japaul Oil and Maritime Services Plc led the losers after declining by 9.09% or 6 kobo to close at 60 kobo per share.

Also losing were Caverton Offshore Support Group which fell by 4.88% to close at N6.24 per share, while AG leventis Plc fell by 4.86% to close at N1.37 per share.