The Nigerian equities market sustains positive stance, on Monday, as trading opened the week bullish on gains of large capitalised stocks such as Dangote Cement, MTN Nigeria, BUA Cement; and some banking stocks.
The local bourse sustained its bargain-hunting activity as its All Share Index (ASI) advanced by 3.96 per cent to close at 32,243.05 basis points at the close of the trading session.
Accordingly, Month-to-Date and Year-to-Date gains increased to +5.6 per cent and +20.1 per cent, respectively, as investors gain N641.1 billion as the market capitalisation closed at N16.85 trillion.
Notably, the Exchange closed with 47 gainers as against 11 losers amid positive investors sentiment.
Oando, NNFM, Mutual Benefits and Wapco topped the gainers’ chart having appreciated by ten per cent in respective share value at N2.97 Kobo, N6.07 Kobo, 22 Kobo and N21.45 Kobo per respective share.
Conversely, NCR led the decliner chart to close the day trade with ten per cent decline in its share value, Learn Africa followed with 8.7 per cent depreciation to close at N1.05 Kobo per share.
Sectoral performance reflected the general equities market sentiment, as all sector indices recorded gains. The Banking and Industrial Goods indices led the gains after adding 6.7 per cent and 5.5 per cent, followed by the Consumer Goods, Insurance and Oil & Gas indices.
However, activity went down a bit as the total volume of trades decreased by 0.2 per cent to 636.01 million units, valued at N8.24 billion and exchanged in 7,210 deals.
Zenith Bank was the most traded stock by volume and value at 70.22 million units and N1.66 billion, respectively, followed by FBN Holdings whose 67.65 million stocks were exchanged at N474.57 million, while Access Bank’s 58,02 million shares was sold at N500.2 million.
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