Equities investors earn N324.3bn as ASI adds 0.9%

At the Nigerian Exchange Limited, on Monday, equities trading begins the week on a positive note, extending gains from the previous session as the All-Share Index closed 0.90 per cent stronger to close at 66,151.38 basis points.

The market’s performance was primarily driven by gains in industrial heavyweight- BUA Foods, alongside First Bank of Nigeria Holdings and United Bank for Africa as the share prices of these large-cap stocks appreciated by 9.09 per cent, 0.30 per cent and 0.36 per cent, respectively.

As a result, the Month-to-Date (MTD) and Year-to-Date (YTD) gains increasing to +2.8 per cent and +29.1 per cent, respectively.

Equities investors, therefore, gained N324.26 billion as the market capitalisation settled at N36.21 trillion.

As measured by market breadth, market sentiment was positive, as 33 tickers gained relative to 24 losers.

Omatek and Thomas Way recorded the most significant gains of the day having appreciated by 10.0 per cent, respectively; while CWG and John Holt topped the losers’ list dipped by 10.0 per cent and 9.8 per cent, respectively.

Sectorial performance was a mixed bag, with the NGX Banking and the NGX Insurance indices declining by 0.90 per cent and 0.35 per cent, respectively, while the NGX Consumer Goods and the NGX Oil/Gas indexes rose by 5.86 per cent and 0.03 per cent, respectively. The NGX Oil/Gas index remained unchanged.

Meanwhile, market activity nosedived further, with total volume and value decreasing by 12.61 per cent and 7.52 per cent, respectively, amounting to 311.12 million units and N3.92 billion.

In terms of volume, Access Holdings emerged as the most actively traded stock, with 43.70 million shares worth N703.33 million changing hands in 517 deals.

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