Domestic equities gain N142bn in first day of trading

The domestic equity market Monday opened the week on a positive note, appreciating by N142 billion as gains recorded in the small medium and large stocks boosted activities in the market.

Market caipitaslisation of listed equity increased by 0.26 per cent to N55.359 trillion from N55.217 trillion reported the previous day.

The NGX All Share Index also depreciated by 250.83 basis points to 97863.34 points from 97612.51 points it closed on Friday.

The positive performance in the market was driven by gain in the stocks of Zenith Bank, AccessCorp, Conoil, FBNHoldings, GTCO Plc, Nigerian Breweries, Fidelity Bank and among others.

As result year to date return went to 30.88 per cent even as the market dominated with 22 losers against 15 gainers.

An analysis of the Investment showed that JohnHolt led gainers table during the day, appreciating by 9.60 per cent to close at N2.17 per share, Fidelity Bank followed with a gain of 8.43 per cent to close at N9.00, Conoil Plc added 8.36 per cent to close at N105.00, Mutual Benefits gained 7.69 per cent to close at N0.56 per unit, Jaiz Bank up by 6.02 per cent to close at N2.29 per share.

On the contrary, CWG and Caverton Business Solutions topped losers’ chart, declining by 10 per cent each, to close at N5.40 and N1.26 per share respectively. C& I Leasing down by 9.01 per cent to close at N3.13 per unit

FTNCocoa dipped by 8.33 per cent to close at N1.10 per unit, RTBriscoe down by 8.33 per cent to close at N0.44 per unit.

Volume of trades declined by 402.115 million, representing 52.28 per cent as investors traded 366.979 million shares valued at N5.939 billion in 8031 deals against 769.094 million shares cost N15.742 billion in 7585 deals.

Transactions in the shares of Access Holding Company (AccessCorp) led market activities with 176.230 million shares valued at N2.994 billion, FBNHoldings followed with account of 46.119 million shares valued at N978.708 million, United Bank for Africa traded 21.159 million shares worth N432.833 million, Fidelity Bank exchanged 17.727 million shares cost N156.155 million, FTNCocoa traded 10.822 million shares valued at N11.871 million.