Positive Sentiment

The Nigerian Stock Exchange on Monday closed the last trading day of August with a growth of 0.07 per cent, following sustained positive sentiment. Specifically, the All-Share Index rose by 17.76 points or 0.07 per cent to close at 25, 327.13 compared with 25,309.37 achieved on Friday. Similarly, the market capitalisation improved by nine billion naira or 0.07 per cent to close at N13.213 trillion against N13.203 trillion posted on Friday. The upturn was impacted by gains recorded in large and medium capitalised stocks, amongst which are: Mobil Nigeria, Dangote Cement, Lafarge Africa, Vitafoam and BUA Cement. Analysts at United Capital Plc said, “This week, we expect to see some profit taking, given the bullish performance in the last two weeks.” Mobil led the gainers’ chart in percentage ...