The Nigerian Stock Exchange on Monday recorded a marginal increase in the listed equities All Share Index at the close of trading. The ASI moved up by 10.09 basis points, as business activities for the day closed with an ASI of 20,426.19. The market had opened at 20,416.10 points.The NSE Oil/Gas index appreciated by 4.14 points to close at 244.23, while the NSE-30 index increased by 0.78 points to close at 911.86 basis points.However, the other three market indicators recorded depreciation. The NSE Food/Beverage dropped by 46.02 points to close at 565.93; just as the NSE Banking index lost 0.37 points to close at 290.60; while the NSE Insurance index went down by 1.89 points to close at 151.16 basis points.Analysts, who spoke with our correspondent at the Exchange on Monday, noted that the marginal rise in ASI was a welcome development. They noted that though investor confidence in the market was declining fast and there were doubts about its quick recovery, Mondays rise in ASI after about four days of consecutive lull indicated that the market still had chances of bouncing back.According to them, the stock market will return to its true position with time. They stressed that wise investors needed to take advantage of the lowly priced stocks of many companies listed on the Exchange to invest.The banking sub-sector maintained its lead on the activity chart, recording high volume at the close of business. Investors in the banking sub-sector exchanged 160.907 million shares valued at N1.295bn in 2,141 deals.Trading in the shares of Zenith Bank Plc, United Bank for Africa Plc, First Bank of Nigeria Plc and Guaranty Trust Bank Plc boosted turnover in the sub-sector. Activities in the banking sub-sector accounted for 74.82 per cent of total turnover for the day.The insurance sub-sector was next on the activity chart, as investors in the sub-sector exchanged 22.977 million shares, worth N30.206m in 140 transactions. Activities on the shares of Guaranty Trust Assurance Plc drove turnover in the sub-sector.A total of 17 stocks recorded price appreciations, while 20 recorded loses.Oando Plc led the price gainers, rising by five per cent or N1.30 to close at N27.30 per share, after opening the day at N26.00. Forte Oil Plc was next on the gainers chart, as its share price moved up by 4.97 per cent or 0.55k to close at N11.61 per share. On the other hand, Airline Services and Logistics Plc led the price losers, shedding five per cent or 0.10k to close at N1.90k per share.
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