At the Nigerian Exchange (NGX) on Monday, equities trading opened the week on a positive note, as the All-Share Index advanced by 0.34 per cent to close at 106,116.18 basis points.
Market capitalisation mirrored this performance, rising by 0.34 per cent to N66.69 trillion, reflecting an approximate N228 billion increase in investors’ wealth.
Market breadth was strong, with 47 gainers outpacing 16 decliners.
Top gainers included International Breweries, Legend Internet Service, Cadbury Nigeria, Fidson Healthcare, and Eterna, which appreciated in share value by 10.0 per cent, 9.97 per cent, 9.96 per cent, 9.95 per cent, and 9.90 per cent, respectively. Meanwhile, Livestock Feeds, Aradel Holdings, Tripple Gee and Co, John Holt, and Linkage Assurance led the losers’ chart after their respective share prices dipped by 10.0 per cent, 9.86 per cent, 9.60 per cent, 7.94 per cent, and 6.15 per cent, respectively.
Broad-based optimism fuelled the session, with most sectors recording gains.
The Consumer Goods sector led with a 2.38 per cent rise, followed by Banking, Insurance, and Industrial Goods with respective increases of 1.31 per cent, 0.32 per cent, and 0.31 per cent.
In contrast, the Oil & Gas and Commodity sectors declined by 2.87 per cent and 1.72 per cent, respectively.
Trading activity remained robust: although market value dropped by 39.97 per cent, the number of deals and volume traded increased by 23.47 per cent and 16.94 per cent, respectively.
In total, transactions worth N12.11 billion were recorded in 17,637 deals involving 500.59 million units.
Banking stocks dominated activities on Monday, with Access Holdings leading the chart in terms of trading volume, while Guaranty Trust Holding Company led in terms of value traded. The shares of Fidelity Bank and United Bank for Africa also featured prominently in the day’s activity.
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