Local stock market opens week bullish, investors gain N16bn

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4 years ago

The local equities market rose marginally by 0.08 per cent to 40,150.78 basis points amid renewed bullish activity, on Monday.

Trading in the domestic equities market started the week on a positive note, as investors gained N15.98 billion as the market capitalisation settled at N20.99 trillion as against an opening of N20.98 trillion.

Consequently, Month-to-Date (MtD) and Year-to-Date (YtD) loss both moderated to -0.3 per cent.

Specifically, tickers such as Ardova Plc, Presco, Flourmill of Nigeria and Zenith Bank advanced by 9.79 per cent, 1.41 per cent, 2.81 per cent and 0.78 per cent respectively amid positive sentiment.

Market sentiment, as measured by market breadth, was also positive as 27 stocks gained, relative to 24 losers. May and Baker and Ardova Plc topped the gainers’ list having advanced by 9.8 per cent respective growth, while Cutix and BOC Gas recorded the largest losses of the day after depreciating by ten per cent respectively.

The sectoral performance was positive as three out of the five indices tracked closed green; the NSE Banking, NSE Consumer Goods and NSE Oil/Gas indices increased by 0.18 per cent, 0.46 per cent and 0.85 per cent respectively. On the flip side, the NSE Insurance and NSE Industrial indices moderated by 0.72 per cent and 0.01 per cent respectively.

Activities at the Nigerian Stock Exchange (NSE) improved as the total volume traded increased by 0.7 per cent to 335.70 million units, valued at N2.49 billion, and exchanged in 5,338 deals.

Mutual Benefit was the most traded stock by volume at 104.16 million units, while Okomu Oilpalm was the most traded stock by value at N462.84 million.

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Local stock market opens week bullish, investors gain N16bn