Equity Investors See N22bn Gain as NGX Opens Positive

Equity Investors See N22bn Gain as NGX Opens Positive

Equity investors see N22 billion gain on Monday as the Nigerian Exchange (NGX) opens positive. Today’s rally follows the positive sentiment in the largest listed stock in the market Dangote Cement Plc (DANGCEM) and other bellwethers. 

Consequently, the Nigerian Exchange All-Share Index increased by 41.40 basis points, representing a growth of 0.10 per cent to close at 42,394.71 points, according to Atlass Portfolios Limited.

Ahead of the expectation of the Santa Claus rally, the stock market capitalisation edged higher by ₦21.61 billion to close at ₦22.13 trillion.

Stockbrokers hinted that the market activities was bearish despite the buying interest as the total volume and value traded dipped by 58.39 per cent and 29.68 per cent, respectively.

Market data shows that a total sum of 142.17 million units valued at ₦2.49 billion was transacted in 3,749 deals at the first trading session in the week.

Precisely, FBNH outdid the traded stock in terms of volume, accounting for 14.20 per cent of the total volume of trades, followed closely by GTCO (7.44%), SOVRENINS (7.11%), MBENEFIT (6.59%), and AIICO (6.22%) to complete the top five on the volume chart.

However, DANGCEM emerged as the most traded stock in value terms, with 29.21 per cent of the total value of trades on the exchange.

NEIMETH led the advancers’ chart with a price appreciation of 9.82 percent, trailed by UBN (5.43%), LIVESTOCK (5.26%), HONYFLOUR (1.47%), FBNH (1.24%), GTCO (0.78%), DANGCEM (0.59%), NGXGROUP (0.27%), ZENITHBANK (0.20%) and twelve (12) others.

Today, eleven (11) stocks depreciated, led by CILEASING with a price depreciation of 8.70 per cent to close at ₦4.2. ETI share price was knocked down by 2.21%, OANDO slides by 2.13%, STERLNBANK lost 1.99% of the opening value and MTNN dipped 0.59%.

Overall, the market breadth closed positive, recording 21 gainers and 11 losers. The sector performance was relatively positive, as three of the five sectors appreciated.

Sector performance record shows that Industrial Goods jumped 0.31%, trailed by banking which gained 0.29% and Consumer Goods see 0.03% increase. Meanwhile, the Insurance and Oil & Gas sectors tanked by 0.48% and 0.41%, respectively. # Equity Investors See N22bn Gain as NGX Opens Positive