Equities market opens week bullish as investors earn N37.7bn

The Nigerian equities market extended gains from the previous week as the benchmark index closed six basis points stronger at 103,648.24 basis points.

Notably, buy interest in Tier-1 banking tickers, including Zenith Bank, First Bank of Nigeria Holdings, and Access Holdings, impacted the trading sessions at the Nigerian Exchange (NGX) on Monday.

This increase contributed N37.7 billion to the market capitalisation, pushing it up to N63.2 trillion and lifting the year-to-date (YTD) return to 0.70 percent.

As measured by market breadth, market sentiment was positive, as 47 tickers gained relative to 19 losers.

On the performance board, Daar Communication and Honeywell Flour Mills led the gainers, having appreciated in share value by 10 percent respectively, while Cutix and Caverton recorded the highest losses of the day after their respective share prices dipped by 5.5 percent and 5.4 percent, respectively.

Sector performance was largely negative, although there were notable gains in banking and insurance.

Conversely, the consumer goods, oil/gas, and industrial goods sectors saw declines of 0.35 percent, 0.07 percent, and 0.10 percent, respectively.

The total trading volume increased by 20.7 percent to 855.97 million units, valued at N13.25 billion, and exchanged in 16,505 deals.

Chams was the most traded stock by volume at 80.76 million units, while Guaranty Trust Holding Company was the most traded stock by value at N3.07 billion.

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