Equities trading at the Nigerian Exchange Limited (NGX) extended gains from last week to open the week bullish as the All-Share Index closed 1.45 per cent stronger to close at 68,111.71 basis points.
Basically, the local bourse kicked off this week on a positive note following bargain hunting on Dangote Cement and Stanbic IBTC Holdings, leaving 5.8 per cent and 9.2 per cent, respectively, growth in their share prices.
Consequently, the month-to-date (MTD) and year-to-date (YTD) returns closed higher at +2.6 per cent and +32.9 per cent, respectively.
With the overall positive sentiments at the local bourse on Monday, equities investors earned N535.74 billion as the market capitalisation closed at N37.42 trillion
As measured by market breadth, market sentiment was positive, as 44 tickers gained relative to 16 losers.
On the performance board, NNFM and Chellaram recorded the highest gains of the day, having appreciated in share value by 10.0 per cent and 9.8 per cent, respectively, while Meyer and Abbey topped the losers’ list after their share value dipped by 9.9 per cent and 9.7 per cent, respectively.
Sectoral performance was a mixed bag, with two of the five tracked indexes ending in the green, two remaining relatively flat, and one posting losses. The banking and consumer goods indexes led the gainers, advancing by 0.94 per cent and 0.07 per cent, respectively. In contrast, the insurance sector faced a decline, plummeting by 1.80 per cent, while the oil and gas and industrial goods indexes held steady compared to the previous session.
Meanwhile, market activity was robust at the close of the trading session, with total deals, volume, and value increasing by 43.77 per cent, 100.98 per cent, and 59.47 per cent, respectively, amounting to 7,656 trades, 430.39 million units, and N8.26 billion.
Universal Insurance emerged as the most actively traded stock of the day, with 94.75 million shares worth N23.11 million changing hands in 68 deals.
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