Trading activities at the Nigerian Exchange Limited (NGX) started the new week on a good note as the benchmark index appreciated by 0.51 per cent on Monday.
The bullish sentiment with which the local bourse kick-started the week was supported by investors’ demand for MTN Nigeria and Zenith Bank stock has appreciated by 1.2 per cent and 4.4 per cent respectively.
Consequently, the year-to-date (YTD) return rose to 9.72 per cent, while market capitalization gained N127.49 billion to close at N25.27 trillion.
As measured by market breadth, market sentiment was also positive, as 31 tickers gained relative to 12 losers.
On the performance board, NAHCO and UACN recorded the highest gains of the day having appreciated by 10.0 per cent and 9.9 per cent, while Academy Press and Mutual Benefits topped the losers’ list after each share price declined by 9.6 per cent and 7.7 per cent.
Further analysis indicated that sector performance was broadly positive, as the Banking, Insurance, and Industrial Goods indices closed higher by 2.8 per cent, 1.4 per cent and 0.2 per cent, while the Oil & Gas index declined by 0.1 per cent. The Consumer Goods index closed flat.
Market activities for the day under review were impressive as trade turnover settled higher relative to the previous session, with the value of transactions advancing by 117.91 per cent.
Specifically, a total of 224.64 million shares valued at N3.82 billion were exchanged in 5,946 deals. Guaranty Trust Holding Company led the volume chart with 43.25 million units traded, while MTN Nigeria led the value chart in deals worth N1.03 billion.
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