NGX: Equities investors gain N28bn as market opens week bullish

Equities trading at the Nigerian Exchange Limited (NGX) started the week on a positive note, as the All-Share Index closed higher by 0.5.per cent to 51,962.85 basis points.

The market’s performance on Monday was largely driven primarily by sustained investor interest in MTN Nigeria, FBN Holdings, Zenith Bank, Okomu Oilpalm and Stanbic IBTC leaving their respective share prices higher by 2.13 per cent, 3.32 per cent, 0.23 per cent, 8.53 per cent and 3.23 per cent.

Accordingly, the Month-to-Date loss moderated to -1.9 per cent, while the Year-to-Date returns increased to +21.7 per cent.

Equities investors, therefore, earned N28.01 billion as market capitalisation settled at N28.01 trillion at the end of trading activities n Monday.

As measured by market breadth, market sentiment was positive as 18 tickers gained relative to 15 losers.

On the performance board, Ecobank Transnational Incorporated and JohnHolt recorded the highest gains of the day as their respective share prices went up by 9.8 per cent and 9.5 per cent , while PZ Eterna Oil topped the losers’ list having depreciated share value by 10.0 per cent and 9.3 per cent, respectively.

Performance across sub-sector was largely positive except for the NGX Consumer Goods index which fell by 0.56 per cent. The NGX Banking index, NGX Insurance index and the NGX Oil/Gas index rose by 0.51 per cent, 1.50 per cent and 0.12 per cent respectively. The NGX Industrial index remained unchanged.

Elsewhere, Market activity was strong on Monday as the volume of stocks traded ballooned by 70.75 per cent to 266.51 million units; Similarly, the value of stocks traded increased by 41.82 per cent to N2.60 billion.

Transnational Corporation was the most traded stock by volume at 31.80 million units, while Seplat Energy was the most traded stock by value at N414.97 million.

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Equities investors gain N28bn…  Equities investors gain N28bn…  Equities investors gain N28bn…