Investors earn N27bn as bullish run persists at NGX

Equities trading at the Nigerian Exchange Limited extends bullish run into the first trading session of the week as the All-Share Index (ASI) gained 0.12 per cent to peg the ASI at 41,814.74 basis points.

This outing brought the month-to-date and year-to-date outings of the ASI to stand at 3.96 per cent and 3.83 per cent respectively.

Investors, therefore, earned N27 billion on Monday as the equities market capitalization settled at N21.821 trillion.

Market Breadth closed in favour of the bulls, with 28 counters in the gainers’ chart pitted against 20 counters in the losers’ chart.

On the chart, PZ, Mutual Benefits, Unilever Nigeria, Mansard Insurance, and Cutix were the best-performing stocks in the session as they populate the top five gainers’ chart.

From the rear of the chart Abbey, Prestige Insurance, Regal Insurance, C&I Leasing, and NGX Group populated the top five losers’ charts.

The positive sentiments reflected on the sectoral as most sectoral indices closed in the same direction with the ASI save for NGX OILGAS and NGX GROWTH that lost 0.36 per cent and 0.59 per cent respectively, while NGX ASEM closed flat.

Market activity as measured by both volume and value of trades gained weight in the session with daily traded volume standing at 674 million units, representing 32.21 per cent increase from a volume of 510 million units traded in the previous session.

The value of traded stocks inched up by 29.42 per cent in the session to stand at N7.592 billion as against a value of N5.866 billion recorded in the previous trading session.

Market activity for the session was dominated by the financial sector, with FBN Holdings being the most traded stock, as it is flanked by ETI, Universal Insurance, Transcorp, and GTCO.

With regards to the value of traded stocks, FBN Holdings, GTCO, ETI, Nestle Nigeria, and Total made up the top five performers.

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