Finance
Stock Market Starts New Month in Green
- Stock Market Starts New Month in Green
The Nigerian Stock Exchange closed higher on the first day of February following four consecutive days of bearish run.
The market capitalisation gained N30 billion or 0.26 per cent to close at N11.424 trillion, up from the N11.394 trillion recorded on Thursday.
Unilever emerged top gainer with N1.90 to close at N36.90 per share. While Nestle, on the other hand, topped losers’ chart, declining by N19.90 to close at N1,420 per share.
Guaranty Trust Bank emerged the most traded stock, with 65.22 million shares valued at N2.19 billion exchanging hands.
FBN Holdings trailed Guaranty Trust Bank with 28.29 million shares worth N209.71 million.
Overall, investors traded 270.94 million shares valued at N4.42 billion in 3,144 deals.
This was lower than the 349.31 million shares worth N3.49 billion transacted in 4,228 deals on Thursday.
While weak business confidence continued to weigh on new investment ahead of the National Elections, analysts believe the market will recover after a new president has been elected in June.