Investors Gain In New Week As Equities Market Opens

Equities trading activities at the Nigerian Exchange Limited (NGX) resumed the week slightly positively amid renewed bargain-hunting activity.

Thus the All Share Index (ASI) rose by 0.03 per cent to settle at 50,016.12 basis points.

Accordingly, the Month-to-Date and Year-to-Date gains printed +5.8 per cent and +15.2 per cent, respectively.

On Monday, tickers such as Wapic Insurance, Guaranty Trust Holding Company, Fidelity Bank, Access Holdings, United Bank for Africa, Zenith Bank, Lafarge Africa and Dangote Cement enjoyed investors’ patronage as their respective share prices rose by 9.09 per cent, 4.74 per cent, 4.47 per cent, 3.86 per cent, 3.60 per cent, 3.23 per cent, 3.94 per cent, 1.77 per cent, and 1.02 per cent, respectively.

Equities investors, therefore, earned N7.57 billion as the market capitalization closed the day at N32.13 trillion.

As measured by market breadth, market sentiment was positive, as 43 tickers gained relative to 22 losers. Tantalizer and Universal Insurance recorded the highest gains of the day after their respective share prices appreciated by 10.0 per cent, while Ellah Lakes and John Holt topped the gainers’ list having depreciated in share value by 10.0 per cent and 9.6 per cent, respectively.

Given the bullish sentiment, performance across sub-indices was positive as the NGX Banking, NGX Insurance, NGX Consumer Goods, and NGX Industrial Indexes rose by 2.92 per cent, 1.19 per cent, 0.15 per cent, and 0.66 per cent, respectively.

However, the NGX Oil/Gas index closed flat.

Analysis of market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 71.22per cent. A total of 892.95 billion units of shares valued at N11.15 billion were exchanged in 9,274 deals.

Jaiz Bank led the volume chart with 139.89 million units traded, while Guaranty Trust Holding Company led the value chart in deals worth N2.65 billion.

(Tribune)

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