Equities market open week bullish as investors earn N61.5bn

Equities trading at the Nigerian Exchange Limited (NGX) opened the week’s trading on a positive note as the All-Share Index (ASI) advanced by 0.2 per cent to close at 52,579.52 basis points.

Investors’ interest in Nigerian Breweries and some Tier-1 banking names – Guaranty Trust Holding Company, Zenith Bank and Access Holdings, underpinned the bullish performance as the large stocks appreciated by 3.9 per cent, 1.9 per cent, 1.5 per cent and 2.7 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns printed +0.3 per cent and +2.6 per cent, respectively.

Equities investors, therefore, earned N61.53 billion cumulatively on Monday as the market capitalisation gained N61.53 billion to close at N28.63 trillion.

As measured by market breadth, market sentiment was positive as 29 tickers gained relative to 17 losers. On the performance board, Multiverse and Red Star Express topped the gainer’s list having appreciated in share value by 10.0 per cent, respectively, while C&I Leasing and Transnational Corporation recorded the highest losses of the day after their respective share prices dipped by 9.8 per cent and 7.7 per cent.

All five tracked indexes, NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial—closed in the green, indicating strong sectoral performance. These indices saw increases of 0.62 per cent, 0.81 per cent, 0.56 per cent, 0.35 per cent, and 0.03 per cent, respectively.

Analysis of market activities for the day under review showed that trade turnover settled higher relative to the previous session, with the value of transactions up by 26.54 per cent .

A total of 511.38 million shares valued at N7.14 billion were exchanged in 5,883 deals. Access Holdings led volume and value charts with 167.62 million units traded in deals worth N1.92 billion.