Equity investors had the reason to smile on Monday after their wealth expanded by 0.58 per cent at the close of transactions at the Nigerian Exchange (NGX) Limited.
Data showed that the market capitalisation increased during the session by N323 billion to N56.452 trillion from last Friday’s N56.129 trillion, as the All-Share Index (ASI) gained 571.38 points to settle at 99,793.71 points compared with the preceding session’s 99,222.33 points.
The growth recorded by the local bourse was buoyed by persistent buying interest almost across the sectors of the market, though the industrial goods space crumbled by 0.08 per cent due to profit-taking activities by traders.
But the energy counter improved by 3.13 per cent, the banking sector appreciated by 2.71 per cent, the insurance space jumped by 0.59 per cent, and the consumer goods index went up by 0.31 per cent.
Flour Mills topped the gainers’ chart yesterday after rising by 10.00 per cent to sell for N41.80, TotalEnergies rose by 9.98 per cent to N353.60, Access Holdings gained 9.86 per cent to N18.95, Chams soared by 9.74 per cent to N1.69, and Veritas Kapital appreciated by 9.52 per cent to 69 Kobo.
On the other side, eTranzact lost 9.90 per cent to trade at N4.55, DAAR Communications depreciated by 9.52 per cent to 57 Kobo, Unity Bank shed 6.67 per cent to N1.12, Champion Breweries weakened by 6.67 per cent to N2.80, Coronation Insurance dropped 2.86 per cent to 68 Kobo.
Business Post reports that the NGX reported 30 price gainers and 10 price losers on Monday, representing a positive market breadth index and a strong investor sentiment.
A total of 963.5 million shares worth N13.5 billion exchanged hands in 8,657 deals during the session versus the 388.0 million shares worth N7.4 billion traded in 7,106 deals in the preceding trading day, indicating a rise in the trading volume, value and number of deals by 148.33 per cent, 82.43 per cent, and 21.83 per cent, respectively.
Fidelity Bank topped the activity chart after selling 605.3 million stocks valued at N6.0 billion, Access Holdings traded 93.1 million stocks worth N1.7 billion, UBA exchanged 58.7 million equities for N1.3 billion, Nigerian Breweries sold 45.3 million shares valued at N1.3 billion, and Zenith Bank traded 16.1 million stocks for N539.6 million.
–By Dipo Olowookere