Nigerian stocks recorded a little change on Monday in a muted session that nearly culminated in flat trade, with the benchmark index crawling up by 0.01 per cent.
Vitafoam as well as United Capital and Wema were behind the scrap of gain that saved the day even though there is optimism companies’ financial reports will boost trade in the days ahead.
In the latest compensation corporate action, cable maker Cutix Friday proposed a bonus issue of one new share for everyone currently held by its shareholder and a dividend per share payout of N0.15, a move that catapulted its share price by almost 10 per cent, the maximum upward limit allowed by the Nigerian Exchange.
Market breadth, which measures investors’ sentiments, was broadly positive as there were 22 advancers in contrast to 10 losers.
The all-share index expanded 5.47 basis points to 37,952.65, while market capitalisation closed higher at N19.774 trillion.
Year to date, the index is down 5.76 per cent.
TOP FIVE GAINERS
Eterna led gainers, appreciating by 10 per cent to close at N7.15. UPL went up by 9.93 per cent to N1.55. Cutix rose to N3.99, notching up 9.92 per cent in the process. Regal Insurance added 8.89 per cent to end today’s trade at N0.49. Learn Africa completed the top 5, climbing by 8.76 per cent to N1.49.
TOP FIVE LOSERS
FTN Cocoa was the worst-performing stock, declining by 7.32 per cent to close at N0.38. Sovereign Trust shed 6.06 to close at N0.31. ETI fell to N5.10, losing 3.77 per cent. Sterling Bank slumped to N1.51, recording 3.21 per cent depreciation. Union Bank closed at N5.45, going down by 2.68 per cent.
In all, 462.809 million shares estimated at N1.200 billion were traded in 3,610 deals.
Jaiz was the most active stock with 217.122 million units of its shares worth N116.621 million traded in 189 deals. Sterling shares of 78.814 million units priced at N119.553 million exchanged hands in 73 transactions. Wema had 19.151 million shares valued at N15.799 million traded in 93 deals. Sovereign Trust traded 14.957 million shares estimated at N4.553 million in 24 transactions. Universal Insurance traded 12.803 million shares valued at N2.590 million in 29 deals.