Equities market opens week bullish as ASI add 0.8%

The Nigerian stock market started the week on a positive note, with the NGX All-Share Index (ASI) rising by 0.79 per cent to close at 141,659 basis points, boosting the year-to-date return to 37.63 per cent.

Specifically, gains in BUA Foods, Guaranty Trust Holding Company and Unilever Nigeria drove the ASI by 0.8 per cent, as these high caps appreciated in share value by 6.7 per cent, 1.3 per cent and 8.4 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns settled at +1.0 per cent and +37.6 per cent, respectively.

Total market capitalisation increased by N704.38 billion to N89.63 trillion.

As measured by market breadth, market sentiment was positive, as 30 tickers gained relative to 29 losers.

On the performance board, Living Trust Mortgage Bank and eTranzact led the gainers after their respective share prices appreciated by 10.0 per cent and 9.7 per cent, respectively; while MacNicholas and Honeywell Flour Mills recorded the most significant losses of the day, having dipped in share value by 9.9 per cent and 9.1 per cent, respectively.

Sectoral performance was mixed as the Consumer Goods and Banking indices advanced by 3.5 per cent and 0.1 per cent, respectively; while the Insurance and Oil & Gas indices closed lower by 0.2 per cent and 1.0 per cent, respectively. The Industrial Goods index remained unchanged.

Trading activity was vibrant, with the number of deals surging by 33.08 per cent to 31,578, trading volume increasing by 27.69 per cent to 555.12 million units, and trading value rising sharply by 48.96 per cent to N24.08 billion.

UAC Nigeria was the most traded stock by volume at 67.17 million units, while Geregu Power was the most traded stock by value at N10.28 billion.

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