Equities trading at the Nigerian Exchange Limited (NGX) opened the week on a positive note, extending gains from the previous session as the All-Share Index closed 0.20 per cent stronger to close at 52,319.94 basis points.
Notably, buying interest in the stocks of Seplat Energies was the driver of the overall bullish trade it’s shares appreciated by ten per cent at the end of trading activities on Monday.
In addition, investors taking position in banking names, Guaranty Trust Holding Company (GTCO), FBN Holdings and United Bank for Africa buoyed the market as their respective shares appreciated by1.91 per cent, 0.92 per cent and 0.68 per cent, respectively.
Consequently, the Month-to-Date and Year-to-Date returns advanced to +1.0 per cent and +22.5 per cent, respectively.
Investors, therefore, earned N56.53 billion from their investment as the market capitalisation gained closed at N28.21 trillion.
As measured by market breadth, market sentiment was negative as 21 tickers lost relative to 16 gainers. On the performance chart, CWG and Academy Press recorded the most significant losses of the day having depreciated n stock value by 10.0 per cent and 9.5 per cent, respectively, while Seplat Energies and Cornerstone Insurance topped the gainers’ list by 10.0 per cent and 8.8 per cent.
Performance across sectors was mixed, as the Consumer Goods and Insurance indices declined, while the Oil & Gas index advanced. The Banking and Industrial Goods indices closed flat.
Analysis of market activities on Monday showed that trade turnover settled lower relative to the previous session, with the value of transactions declining by 16.09 per cent.
A total of 116.28 million units of shares valued at N3.46 billion were exchanged in 4,525 deals. UBA led the volume chart with 12.93 million units traded, while Sepla led the value chart in deals worth N1.33 billion.
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