Equities market opens week bullish as investors earn N124bn

Equities trading at the Nigerian Exchange Limited (NGX) kick-started the new trading week positively as the benchmark index gained 0.47 per cent to conclude at 44,701.84 basis points, amid sustained bargain-hunting activity.

The market’s performance was primarily driven by demand in Zenith Bank, Guaranty Trust Holding Company, and FBN Holdings as these financial stocks appreciated by 1.64 per cent, 0.26 per cent and 1.82 per cent, respectively.

Consequently, the year-to-date (YTD) return rose to 4.65 per cent.

Specifically, tickers such as Nigerian Breweries, BUA Foods, Access Holdings, FBN Holdings and Zenith Bank enjoyed investors’ patronage as their respective share prices rose by 9.94 per cent, 3.51 per cent, 1.85 per cent, 1.82 per cent and 1.64 per cent, respectively.

Owing to the overall positive sentiments, investors, therefore, earned N113.9 billion as the market capitalisation closed higher at N24.35 trillion.

As measured by market breadth, market sentiment was positive as 26 tickers gained relative to 5 losers. On the performance board, Nigerian Breweries and NEM Insurance topped the gainers’ list having appreciated in share value by 9.9 per cent respectively; AIICO Insurance and Mansard Insurance recorded the highest losses of the day after their respective share prices dipped by 5.4 per cent and 5.1 per cent.

Sectorial performance was upbeat as four out of the five indices tracked closed in the green zone; the NGX Banking, NGX Insurance, NGX Consumer Goods, and the NGX Oil/Gas indices rose by 1.25 per cent, 0.18 per cent, 2.44 per cent, and 0.15 per cent, respectively. On the flip side, the NGX Industrial Index fell by 0.03 per cent.

Analysis of market activities on Monday showed trade turnover settled higher relative to the previous session, with the value of transactions up by 57.79 per cent.

A total of 159.56 million shares valued at N1.95 billion were exchanged in 3,607 deals. Transnational Corporation led the volume chart with 35.24 million units traded while Seplat Energies led the value chart in deals worth N478.43 million.

ALSO READ FROM NIGERIAN TRIBUNE 

• We’ve Not Endorsed Tinubu — PFN

• EFCC And The Governors On Its Watch List

• May The Holy Spirit Forgive Those Saying I Need Medical Attention — Hank Anuku

• Rising Poverty: Moving From Poverty Alleviation To Wealth Creation

• GIBBERS: Ibro, Ex-Kogi Gov, Writes Soludo Over Obi

• Wedding bells toll for Mr Eazi, Temi Otedola