Local stock market opens week bullish as investors earn N14.5bn

The Nigerian equities market sustains previous week’s performance to open the new week with positive sentiments.

The direction of performance at the Nigerian Exchange Limited (NGX) on Monday was influenced by investor’s interest in FBN Holdings, as it gained 1.9 per cent by the end of trading activities.

Consequently, the benchmark index notched a 0.1 per cent increase, to close at 40,243.05 basis points. Accordingly, Month-to-Date and Year-to-Date return printed +0.1 per cent and -0.1 per cent, respectively.

Having appreciated by 0.1 per cent or N14.45 billion the market capitalization of the local bourse settled at N20.97 trillion.

As measured by market breadth, market sentiment was positive, as 22 tickers gained relative to 14 losers. On the performance chart, Mansard Insurance and Pharmdeko recorded the highest gains of the day having appreciated in shares value by 9.9 per cent and 9.8 per cent, while Morison and NNFM topped the losers’ list after they lost 10.0 per cent and 9.9 per cent from the value of their respective shares.

Analysing by sectors, the Insurance and Consumer Goods indices posted gains by 1.5 per cent and 0.1 per cent respectively, while the Oil & Gas index declined by 0.4 per cent. The Industrial Goods and Banking indices closed flat.

However, activities was unimpressive at the local bourse on Monday as the total volume of trades dipped by 80.7 per cent to 202.36 million units, valued at N1.86 billion, and exchanged in 4,066 deals.

Fidelity Bank stocks endeared to the hearts of investors on Monday as it made the most traded stock by volume at 18.95 million units, while GTCO was the most traded stock by value at N512.41 million.

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Local stock market opens week bullish as investors earn N14.5bn | Local stock market opens week bullish as investors earn N14.5bn  |  Local stock market opens week bullish as investors earn N14.5bn  |  Local stock market opens week bullish as investors earn N14.5bn.