Equity Investors Gain N247bn as Bulls Dominate Nigerian Bourse
With bulls dominating the trading session, the Nigerian equity market opened the new trading week on a positive note, extending the bullish momentum from the previous week.
Details from the Nigerian Exchange showed that the market index advanced by 0.26% to settle at 147,427.95 points, and market capitalisation rose by ₦247.21 billion to ₦93.97 trillion.
The market uptrend highlights continued positive trading sentiment demonstrated by sustained buying interest in medium and large cap stocks including ZENITHBANK, MTNN, CADBURY, PZ, GTCO among others, across key sectors.
The All-share Index added 386.88 basis points to close at 147,426.95. Meanwhile, the total volume of all trades recorded rose by 52.34% while the total value traded, on the other hand, declined by -6.60%.
Stockbrokers said approximately 550.86 million units valued at ₦13,856.43 million were transacted across 30,090 deals. FCMB emerged the most traded stock, accounting for 23.95% of total trading volume, followed by JAPAULGOLD (11.77%), ZENITHBANK (7.76%), FIDELITYBK (6.82%), and ACCESSCORP with 5.28%.
ZENITHBANK topped the value chart, accounting for 19.74% of the total value of trade. MORISON led the gainers chart, up by +9.89%, trailed by NPFMCRFBK (+9.85%), SOVRENINS (+9.31%), CAVERTON (+9.18%), CHAMS (+7.84%), VERITASKAP (+7.47%), and thirty-four others.
A total of fifteen stocks depreciated in the local bourse on Monday. With a price depreciation of -7.14, DAARCOMM topped the worst performers’ chart, followed by LIVESTOCK (-6.25%), NAHCO (-6.10%), UNIONDICON (-4.76%), JAIZBANK (-3.43%), and OMATEK (-3.36%).
Hence, the market breadth closed on a positive note, as there were 40 gainers and 15 losers. Sectoral activity was predominantly bullish. Insurance index dominated with a 1.83% increase, followed by the banking index, which gained 0.94%.
The Industrial Goods index climbed by 0.28%, and Consumer Goods gained 0.08%. Conversely, the Oil & Gas and Commodity sectors remained unchanged. Overall, the Nigerian Exchange market capitalisation rose by ₦247.21 billion to ₦93.97 trillion
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