Bulls rule as equity market gains N1.725bn

The domestic equity market on Monday opened on a positive note appreciating by N1.725 trillion despite profit taking activities experienced in the market.

Market capitalization of listed equities appreciated by 1.39 per cent to N125.488 trillion from N123.763 trillion reported on Friday.

The NGX All Share Index also increased by 2687.45 basis points to 195514.23 points from 192826.78 recorded the previous day.

Volume of trades declined by 33.981 million, representing 4.12 per cent as investors traded 789.848 million shares against 823.829 million reported the previous day. Value of transactions up by 0.94 per cent to settle at N35.077 billion from N34.750 billion in 84259 deals.

An analysis of the investment showed that NGX group led gainers table for the day appreciating by 10 per cent to close at N136.40 per unit, Aradel followed with a gain of 9.99 per cent to close at N1192.30 per share, UHOReit gained 9.96 per cent to close at N76.15 per share, Sovereign Trust Insurance up by 9.95 per cent to close at N2.43 per unit.

On the contrary, Custodian Insurance topped losers’ chart, declining by 10 per cent to close at N61.20 per unit, Mcnichols trailed with a loss of 9.92 per cent to close at N7.63 per share, Africa Prudential fell 9.75 per cent to close at N16.20 per unit, Chams Plc dropped by 9.11 per cent to close at N4.09 per unit.

Trading in the shares of FTGinsurance led market activities with 109.071 million shares valued at N109.151 million, Japaul Gold followed with account of 54.724 million shares worth N218.868 million, United Bank for Africa traded 43.024 million shares worth N2.059 billion, Access Holdings Company exchanged 30.696 million shares valued at N799.432 million while Oando Plc exchanged 28.510 million shares cost N1.287 billion.