Oil and Gas Index Inches Up As Eterna Tops Gainers

The NSE Oil and Gas index inched up 0.21% on Monday to 286.08 basis points, led by gains from Eterna Plc as the Nigerian Exchange opened the week negative.

The All-Share Index dropped 0.44% to 39306.47 basis points, causing the Nigerian Exchange to lose 91.43 billion of its market capitalization to kick off the week at N20.49 trillion.

The downtrend was driven by price depreciation in medium and large capitalized stocks amongst which are: Nigerian Enamelware, MTN Nigeria Communications, Stanbic IBTC Holdings, BUA Cement, and Lafarge Africa.

After the markets closed with 4,394 deals valued at N3.56 billion, market turnover closed positively as volume moved up by 62.92 percent against the previous session's 25.98 percent downtick.

Top 5 Gainers

Eterna Plc led the advancer's list of 22 gainers on Monday, moving up 9.85 percent, or 65kobo to extend its wins to a new 52-week high of N7.25 per share.

Royal Exchange Plc followed with a 9.21 percent gain worth 7kobo to continue its impressive winning streak to a new 52-week high of 83kobo per share.

Capital Hotel Plc broke out of its extended flat trading streak with a 9.09 percent gain worth 20kobo to close trading at N2.40 per share.

Regency Assurance Plc topped up gains from the previous session, climbing 8.82 percent, or 3kobo, to close trading at 37kobo per share.

Sterling Bank Plc jumped 8.11 percent, or 12kobo, to close trading at N1.60 per share.

Top 5 Decliners

Nigerian Enamelware Plc dominated the list of 15 losers, dropping 9.8 percent, or N1.95 after an extensive period of flat trading to close at N17.95 per share.

Africa Prudential Plc followed with a decline of 6.92 percent, or 45kobo, to close trading at N6.05 per share.

NPF Microfinance Bank Plc dipped 6.42 percent, or 12kobo, to close trading at a one-month low of N1.75 per share.

Wema Bank Plc dipped 5.17 percent, or 3kobo, to close trading at a one-month low of 55kobo per share.

AXA Mansard Insurance Plc depreciated by 3.3 percent, or 3kobo to close at 88kobo per share.