Equities investors earn N250bn as NGX opens week bullish

On Monday, equities trading at the Nigerian Exchange Limited (NGX) opened the week bullish, extending gains from last week as the benchmark index closed 0.71 per cent stronger to settle at 65,202.41 basis points.

Notably, investors picked up shares of BUA Foods, Transnational Corporation, Dangote Sugar, Larfarge Africa and United Bank for Africa at higher prices leaving their shares with 9.29 per cent, 5.29 per cent, 2.86 per cent, 0.73 per cent and 0.72 per cent respective increase.

Accordingly, the Month-to-Date and Year-to-Date return increasing to +1.3 per cent and +27.2 per cent, respectively.

Owing to the positive trading session, equities investors, earned N250.01 billion as the market capitalization settled at N35.68 trillion.

Also, measured by market breadth, market sentiment was positive, as 31 tickers gained relative to 15 losers. On the performance board, John Holt and SCOA recorded the most significant gains of the day having appreciated by 9.7 per cent and 9.4 per cent, respectively, while Tantalizer and Omatek topped the losers’ list after their respective share prices dipped by 10.0 per cent and 9.1 per cent.

Sub-sector indices largely displayed upward trajectories, with the NGX Insurance, NGX Consumer Goods, and NGX Industrial indices posting gains of 0.41 per cent, 4.97 per cent and 0.04 per cent, respectively. The NGX Oil/Gas index remained stable, while the NGX Banking index experienced a marginal dip of 0.35 per cent.

However, activities at the local bourse was tepid as analysis of market activities for the day showed trade turnover settled lower relative to the previous session, with the value of transactions down by 57.50 per cent. A total of 231.60 million shares valued at N3.99 billion were exchanged in 5,494 deals.

Transnational Corporation led the volume chart with 36.84 million units traded while MTN Nigeria Communication led the value chart in deals worth N1.45 billion.

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