Nigerian Exchange Gains N874bn to Close at N46.31Ttn

The Nigerian Exchange (NGX) saw more than N874 billion gain on Monday due to sustained rallies in the local bourse. This pushed the market capitalisation of the Exchange higher, closing at N46.31 trillion as the All-Share Index rose strongly by 1.92 per cent.

Specifically, the market index advanced to 84,640.89 points on Monday from 83,042.96 achieved on Friday. Due to a sustained rally, equities investors gained N874 billion, as the market capitalisation grew by 1.92 per cent to close at N46.316 trillion, as against N45.442 trillion recorded on Friday.

As a result, The Year-To-Date (YTD) return rose to 13.20 per cent, while the market breadth closed positive with 46 equities on the gainer’s table and 19 others on the losers. Buying interests in industrial such as Dangote Cement, BUA Cement and Zenith Bank grew the market shares.

Specifically, 807.51 million shares valued at N11.03 billion were exchanged in 13,647 deals, as against 600.63 million shares valued at N9.10 billion exchanged in 11,697 deals at the previous trade. However, Transcorp led the activity chart in volume with 66.89 million shares worth N956 million, followed by AIICO Insurance with 62.29 million shares valued at N789.89 million.

Wema Bank also sold 41.57 million at N387.92 million, Jaiz Bank transacted 39.19 million shares worth N128.01 million, while First City Monumental Bank (FCMB) traded 38.14 million shares valued at N423.12 million shares. On the gainer’s chart, Chams, Axa Mansard, PZ, Tantalizer and Daar Communications led in percentage terms of 10 each to close at N2.53, N6.49, N32.45, 55k and 99k per share, respectively.

Conversely, on the loser’s chart, Abbey Mortgage Bank Plc led by 9.52 per cent to close at N2.47 per share, followed by Julius Berger by 3.54 per cent to close at N54.50 per share. Custodian Insurance trailed by 3.45 per cent to close at N9.80 per share, while Africa Prudential Plc shed 2.78 per cent to close at N8.75 per share.

Also, FBNH lost 1.79 per cent to close at N27.50 per share. Meanwhile, market breadth closed positive, with 66 advancing equities outnumbering eight declining ones. Naira Rises by 19% as Forex Market Pressures Ease

Analysis of the market activities indicated that trade turnover settled lower relative to the previous session, while the value of transactions went down by 36.88 per cent. #Nigerian Exchange Gains N874bn to Close at N46.31Ttn