The local stock exchange opened this week’s trading on a positive trajectory, as the All-Share Index (ASI) advanced by 0.23 percent to close at 97,733.86 basis points.
This uptick contributed N137.6 billion to market capitalisation, raising it to N59.25 trillion, thus, the month-to-date and Year-to-Date returns printed +0.2 percent and +30.7 percent, respectively.
Trading in the domestic bourse kicked off the week on a positive note, driven by strong buying interest in Lafarge Africa following the announcement of the proposed sale of the company’s majority stake to Huaxin Cement.
Also, rally in banking stocks impacted the market as Zenith Bank, United Bank for Africa and Access Holdings appreciated in share value by 0.45 percent, 1.22 percent and 3.23 percent, respectively; driving the market’s rebound.
ALSO READ: CBN to launch new website Monday
Market sentiment favored the bulls, with 36 stocks appreciating against 25 decliners.
On the performance board, leading the gainers were Abbey Mortgage Bank, African Prudential, Sovereign Insurance, Tantalizer and Lasaco Insurance; while eTranzact International, NCR Nigeria, FTN Cocoa Processor, Honeywell Flour Mills and NPF Microfinance Bank topped the losers’ chart.
Sectoral performance was broadly positive, with notable gains in banking, insurance, consumer goods, oil and gas, and industrial goods.
On Monday, trading activity was mixed, as volume and value declined by 13.45 percent and 33.77 percent, respectively, but the number of deals increased by 21.79 percent.
A total of 446.19 million shares valued at N9.99 billion were traded across 9,200 transactions. Japaul Gold Venture emerged as the most actively traded stock, with 72 million shares worth N161.8 billion exchanged in 142 deals.
READ MORE FROM: NIGERIAN TRIBUNE
and then