Equities investors begin week with N20.9bn gain

At the Nigerian Exchange (NGX), equities trading begins the new week with positive sentiments as investors earn N20.94 billion on Monday. The market capitalisation of the NGX appreciated by 0.12 per cent to close at N20.33 trillion as against N20.31 trillion it closed with on Friday.

Consequently, the All-Share Index (ASI) added 40 points to close at 38,848.02 basis points, having appreciated by 0.12 per cent.

Similarly, the market breadth index was positive with 18 gainers recorded against 12 losers.

On the performance chart, FCMB Holdings was the top gainer having appreciated by 9.77 per cent, while FTN Cocoa led the losers with a ten per cent decline in its share value. Sectoral performances were impressive as the Banking, Consumer Goods and Oil and Gas indices recorded increase.

Specifically, NSE Oil and Gas Index gained 1.19 per cent on account of buy-interest in Oando whose shares grew 2.65 per cent. NSE Banking Index also 4ose by 0.34 per cent due to uptrends in the stocks of Union Bank of Nigeria, United Bank for Africa, Guaranty Trust Bank and Zenith as the recorded 2.15 per cent, 1.44 per cent, 1.20 per cent and 0.70 per cent respective increase in their share value.

Also, NSE Consumer Goods Index inched up by 0.08 per cent due to positive sentiment in Honeywell Flour, UACN and International Breweries.

However, NSE Industrial Index closed flat.

MTN Nigeria was the toast of investors as it made the most actively traded stock with about 181.73 million units of shares worth about N29.68 billion.

There was an uptick in activities at the local bourse on Monday as the total volume of trades increased by 93.8 per cent to 508.63 million units, valued at N32.10 billion, and exchanged in 4,324 deals.

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