Equities market opens week strong as ASI adds 0.6%

Equities trading at the Nigerian Exchange (NGX) opened the trading week on a strong note, as the All-Share Index rose by 0.62 percent to close at 106,698.50 basis points.

Market capitalization followed suit, increasing by 0.62 percent to N67.06 trillion, thereby adding approximately N412.3 billion to investors’ wealth.

Market breadth was positive, with 35 gainers outpacing 29 decliners.

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On the performance board, top gainers included Beta Glass, The Initiates, Cadbury Nigeria, Caverton Offshore Support Group, and Multiverse, after their respective share prices appreciated by 9.97 percent, 9.90 percent, 9.87 percent, 9.77 percent, and 9.45 percent.

Conversely, Ecobank Transnational Incorporated, Meyer, Custodian Insurance, Mutual Benefits Assurance, and Access Holdings led the losers’ chart, as their share prices declined by 9.62 percent, 6.70 percent, 4.72 percent, 4.49 percent, and 3.88 percent, respectively.

Sectoral performance was largely positive: the Insurance, Consumer Goods, Oil & Gas, Industrial Goods, and Commodity sectors advanced by 2.69 percent, 2.90 percent, 2.58 percent, 0.07 percent, and 1.59 percent, respectively, while the Banking sector declined by 1.62 percent.

Trading activity remained robust, with the number of deals, volume, and value traded rising by 1.33 percent, 0.66 percent, and 26.61 percent, respectively.

Overall, transactions worth N18.93 billion were recorded across 18,612 deals involving 569.04 million units.

On Monday, FBN Holdings was the toast of investors, as its shares topped the activity chart with 106 million units traded. Guaranty Trust Holding Company led in terms of value, with N5.6 billion worth of shares exchanged.

NIGERIAN TRIBUNE