Stock Market Opens Week with N203 Billion Profit

The Nigerian stock market resumed activities on Monday on a positive note closing with N203 billion gain.

The positive close of the Nigerian Exchange Limited (NGX) was driven by investors’ interest in the shares of First Bank of Nigeria Holdings with 9.8% rise in share price, ACCESSCORP gaining 9.7% and GEREGU advancing by +6.1%

Accordingly, the NGX All-Share Index (ASI) advanced by 0.6% to close at 62,943.35 points, while valuation of equity investments at the market peaked at N34.173 trillion.

The day’s positive close jacked up the Month-to-Date and Year-to-Date returns of the domestic bourse to +3.2% and +22.8%, respectively.

Meanwhile, compared to the preceding trading session, total volume of shares traded by investors on the floor of the Exchange advanced by 18.2% to 710.02 million units, valued at N13.83 billion, and exchanged hands in 8,979 deals.

Data obtained from the NGX shows that STERLINGNG was the most traded stock by volume at 65.95 million shares, valued at N216.57 million, while DANGCEM was the most traded stock by value at N7.49 billion from trading of 22.332 million shares.

Sectoral performance was mixed, as the Banking and insurance indices advanced by 7.6% and 0.4% respectively indices recorded gains, while the Industrial Goods and consumer goods indices shed -0.7% each as Oil & Gas sector trailed with-0.6% decline.

Meanwhile, the bulls remained dominant with positive market sentiment as 41 tickers gained relative to 27 losers. DAARCOMM (+10.0%) and FIDELITYBK (+10.0%) recorded the most significant gains of the day, while PZ (-10.0%) and UBN (-10.0%) topped the losers’ list.