Equities investors open market with N37.7bn gain

Equities trading on the Nigerian Stock Exchange (NSE) opened the week on a bullish note as the market indicators posted positive at the end of trading on Monday, leaving the All Share Index at 23,941.75 points after 0.29 per cent appreciation.

Equities investors on the local bourse gained N37.7 million as the market capitalization appreciated by 0.29 per cent to close at N12.48 trillion,

Investors’ interest in MTN Nigeria (+1.4%), WAPCO (+6.1%) and some Tier 1 bank stocks caused the domestic bourse to open the week’s trading on a positive note. Accordingly, the ASU’s Month-to-Date gain increased to four per cent, as Year-to-Date losses moderated to -10.8 per cent.

The total volume of trades increased by 49.5 per cent to 331.00 million units, valued at N2.93 billion and exchanged in 5,544 deals. Access Bank was the most traded stock by volume at 83.56 million units while Zenith Bank was the most traded stock by value at N842.87 million.

Analysing by sectors indicated that the Consumer Goods, Insurance and Oil and Gas indices declined by 1.4, 1.1 and 0.1 per cent respectively, while the Industrial Goods and Banking indices recorded gains at 1.8 per cent and 0.3 per cent respectively.

Market sentiment, as measured by market breadth, was positive as 24 stocks gained, relative to 13 losers. Okomu Oil Palm and Neimeth Pharmaceuticals were the top gainers of the day with 9.9 per cent and 9.7 per cent respectively, while Lasaco Insurance and Cornerstone Insurance were the top losers of the day with 7.4 per cent and 6.8 per cent.

 

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