Equities market opens week bullish as investors gains N121.9bn

The local equities market opens a new week on a positive note to reverse losses recorded last week Thursday and Friday as All-Share Index of the Nigerian Stock Exchange (NSE) gained points by 93 per cent today to settle at 25,250 basis points on Monday, pegging the Year-to-Date (YtD) return at -5.93 per cent.

Similarly, the market capitalisation was pegged at N13.17 trillion, as investors gain N121.89 billion as market breadth closed positive as gainers outweighed losers with 31 against 11 losers.

Specifically, on the performance board, Wapic Insurance led the gainers’ chart having appreciated by ten per cent to close at.33 Kobo per share, Fidson Pharmaceuticals followed closely as its share value increased by 9.80 per cent or 29 Kobo to close N3.25 Kobo per unit.

ABC Transports also gained 9.76 per cent or N0.04 Kobo to end the day’s trade 45 Kobo, Neimeth’s shares advanced by 17 Kobo or 9.60 per cent to close at N1.94 Kobo per share, while Chi PLc close at 46 Kobo having gained 9.52 per cent.

Conversely, Japaul Oil led the decliner’s chart as it closed trade at 27 Kobo per share having lost ten per cent. Cone Assurance also declined in share value by 9.09 per cent, while CHAMS depreciated by 7.41 per cent to close at 25 Kobo per share.

The Market recorded a total of 222 million shares on Monday worth 2.09 billion in value, representing 3.68 per cent incline and 16.84 per cent decline from the previous session respectively.

FBN Holdings, Guaranty Trust Bank, Japaul Oil, United Bank for Africa and Zenith Bank ended the trading day as top performers in terms of volume while Guaranty Trust Bank, Zenith Bank, FBN Holdings, Nigerian Breweries and United Bank for Africa made up the top five performers in terms of the value of units traded.

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