Equities trading at the Nigerian Exchange Limited opened the week bullish as the local bourse rebounded by 0.21 per cent to settle at 65,336.71 basis points.
Specifically, investors’ interest in heavyweights stocks of MTN Nigeria, BUA Foods, alongside Zenith Bank kept the market in the positive territory having appreciated in share value by 1.08 per cent, 0.75 per cent and 0.29 per cent, respectively.
Accordingly, the Month-to-Date and Year-to-Date returns settled at +1.6 per cent and +27.5 per cent, respectively.
Equities investors, therefore, gained N75.44 billion cumulatively as the market capitalisation settled at N35.56 trillion at the end of the trading activities at the local bourse on Monday.
As measured by market breadth, market sentiment was mixed as an equal number of tickers 25 gained and lost. Enamelware and Wema Bank topped the gainer’s list having appreciated in share value by 9.9 per cent, while Omatek and Prestige Insurance recorded the highest losses of the day after their share value dipped by 8.8 per cent and 7.8 per cent, respectively.
Sub-sector performance was mixed, with three out of the five indices tracked closing in the red zone. However, the NGX Banking and NGX Oil/Gas indices stood out with gains of 0.81 per cent and 0.12 per cent, respectively.
Conversely, the NGX Insurance, NGX Consumer Goods, and NGX Industrial indexes experienced declines of 1.16 per cent, 0.05 per cent, and 0.01 per cent, respectively.
However, activities at the local bourse was tepid as analysis of market activities on Monday showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 35.92 per cent. A total of 334.33 million shares valued at N3.89 billion were exchanged in 6,940 deals. Sterling Financial Holding Company led the volume chart with 55.14 million units traded while MTN Nigeria led the value chart in deals worth N559.39 million.
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