NGX: Investors gain N30.1bn as market begins August with positive sentiments

Nigerian equities trading opened the week and the month of August with bullish performance, leaving the All Share Index (ASI) with 0.2 per cent appreciation at the close of activities on Monday.

Basically, the positive outing was enhanced by investors interest in MTN Nigeria stocks as the bellwether closed market with 1.8 per cent appreciation in its share value.

Consequently the Nigerian Exchange Limited (NGX) ASI settled at 38,604.72 basis points, as, the Year-to-Date loss moderated to -4.1 per cent.

On Monday, investors earned N30.1 billion as the market capitalisation settled at N20.11 trillion as against N20.08 trillion it closed the July with.

However, as measured by market breadth, market sentiment was negative as 24 tickers declined relative to 17 gainers.

On the performance chart, Eterna Oil and Neimeth Pharmaceuticals recorded the most significant losses of the day having declined by 10.0 per cent and 9.7 per cent respectively; while Julius Berger and NPF Microfinance Bank topped the gainers’ list with 8.9 per cent and 8.0 per cent appreciation recorded to their respective share value.

Analysing by sectors, the Oil & Gas, Industrial Goods, Consumer Goods and Insurance indices recorded declines by respective 0.6 per cent, 0.6 per cent, 0.4 per cent and 0.3 per cent, while the Banking index made 0.6 per cent gain.

Activities at the local bourse was unimpressive as the total volume of trades declined by 36.9 per cent to 244.29 million units, valued at N1.91 billion, and exchanged in 4,609 deals.

Transnational Corporations was the most traded stock by volume at 40.26 million units, while GTCO Holdings was the most traded stock by value at N229.52 million.

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