Oando Plc on Monday closed the Nigerian Exchange Limited (NGX), topping the market activity with 1.973 billion units of shares worth N11.834 billion.
The All-Share Index returned with a 0.04 per cent gain following a 0.20 per cent appreciation on Friday.
The ASI closed at 43,260.13 points up from 43,241.48 points, rising by 18.65 index points or 0.04 per cent.
Overall, the NGX market capitalisation jumped by N9.736 billion or 0.04 per cent to close at N22.575 trillion up from N22.566 trillion posted on the previous trading session.
The appreciation of the Mather index was boosted by a rise in the shares of large and medium scale firms. Amongst them are; Honeywell Flour Plc, NEM Insurance, Oando Plc, FBN Holdings and Champions Breweries.
Investors bought and sold a total of 2,402,071,798 units of shares valued at N16.467 billion in 4,811 deals on the NGX on Monday.
The market breadth closed positive with 17 advanced stocks and 16 declining equities, compared to 23 losers and 16 gainers in the previous trading session.
The gainers’ table was led in percentage parameters by Honeywell Flour, gaining 9.73 per cent to close at N3. 72 per share amid Monday’s announcement of a 71.69 per cent stake acquisition in Honeywell Flour Mills by Flour Mills Nigeria Plc.
Under the deal, which is at a total enterprise value of N80 billion, would see Honeywell Group Limited dispose of a 71.69 per cent stake in Honeywell Flour Mills to Flour Mills Nigeria.
NEM Insurance followed Honeywell Flour with a 7.89 per cent gain to close at N2. 05 per share, while FBN Holdings jumped 6.49 per cent to close at N12 .30 per share.
Similarly, Oando Plc and Champion Breweries rose by 5.97 and 3.83 per cent to close at N5. 15 and 2.71 per share respectively.
On the flip side, Initiates Plc dominated the losers’ table in percentage terms by 9.76 per cent to close at 37 kobo per share
UPDC Plc followed closely with a 9.74 per cent loss to close at N1.39 kobo per share, while FTN Cocoa Plc dipped 9.09 per cent to close at 40 kobo per share.
In the same vein, Jalal Gold Plc lost 4.88 per cent to close at 39 kobo per share, while Universal Insurance fell 4.76 per cent to close at 20 kobo per share.
