Investors earn N107bn as equities market begins week bullish

Equities trading opened the new week on a positive note as the All-Share Index (ASI) increased by 0.19 percent, closing at 97,706.70 basis points.

At the Nigerian Exchange Limited (NGX) on Monday, investors’ interest in Fidelity Bank, United Bank for Africa, and Dangote Suger spurred the overall positive outing.

Consequently, the month-to-date and Year-to-Date returns printed -0.9 percent and +30.7 percent, respectively.

This upward movement was reflected in the market capitalization, which also rose by 0.19 percent, reaching N56.15 trillion and adding N107 billion to investors’ portfolios.

As measured by market breadth, market sentiment was positive, as 28 tickers gained relative to 23 losers
Notable gainers included Fidelity Bank, Associated Bus Company, Livestock Feeds, Regal Insurance, and Ellah Lakes, as these companies’ hare prices appreciated by 10.00 percent, 9.76 percent, 9.76 percent, 8.70 percent, and 8.44 percent, respectively.

Conversely, the worst performers were SCOA Nigeria Plc, Berger Paints, Tripple-Gee and Company, Guinea Insurance, and Thomas Wyatt, having experienced drops of 10.00 percent, 9.95 percent, 9.64 percent, 8.33 percent, and 7.58 percent in their share prices, respectively.
Most sectors performed positively, with the banking, consumer goods, and oil/gas sectors recording gains of 0.81 percent, 0.40 percent, and 0.22 percent, respectively.

In contrast, the insurance and industrial goods sectors saw declines of 0.50 percent and 0.14 percent.

Trading activity remained robust, with the number of deals and trading volume rising by 18.95 percent and 308.08 percent, respectively, as 1,308.71 million shares were exchanged across 10,424 transactions.

However, the total trading value declined by 1.00 percent, closing at N5.96 billion. Tantalizer was the most actively traded stock by volume, with 1 billion shares valued at N450.6 million traded over 35 transactions, while United Bank for Africa topped the list in terms of value traded.