Domestic equities open positive, gains N331bn

Trading activities on the floor of Nigerian Exchange on Monday opened the week on a positive note appreciating by N331 billion as gains recorded in the shares of both medium and highly capitalised stocks impacted positively on the market.

Market capitalization of listed equities crossed the N80 trillion mark increasing by 0.41 per cent to N80.143 trillion from N79.803 trillion it closed the previous day.

The NGX All Share Index also appreciated by 539.95 basis points to 126689.54 points from 126149.59 points traded on Friday.

The positive growth was driven by gains in the shares of BuaCement, Dangote Cement, Transnational Corporation of Nigeria, Cap Plc, Stanbic, Zenith Bank, Okomuoil among others.

The market breath was positive with 45 gainers against 36 losers while year to date return went up to 23.09 per cent.

An analysis of the investment showed that NSLTech led gainers table with 10 per cent to close at N1.10 per unit, Abbey Building Society followed with a gain of 9.99 per cent to close at N7.60 per unit, Ikeja Hotel gained 9.95 per cent to close at N22.10 per share, Mcnichols added 9.12 per cent to close at N4.32 per unit, TrippleG added 9.78 per cent to close at N3.93 per share.

On the contrary, four companies topped losers’ chart with 10 per cent ar the close of trading on Monday.

Tantalizer, Cutix Plc gain 10 per cent to close at N2.70 and N4.14 per unit respectively, RTBriscoe and Caverton Business Solutions dipped by 10 per cent to close respectively at N3.96 and N7.20 per share. Neimeth international Pharmaceutical trailed with a loss of 9.95 per cent to close at N8.24 per unit.

Volume of transactions declined by 103.00 million representing 7.415 per cent as investors traded 1.286 billion shares valued at N32.204 billion in 39431 deals against 1.389 billion shares worth N30.550 billion exchanged hands the previous day in 33399 deals.

Access Holdings company led market activities with 138.031 million shares valued at N3.502 billion, Japaul Gold followed with account of 93.370 million shares worth N292.930 million, AIICO Insurance traded 93.356 million shares worth N220.549 million, United Bank for Africa sold 68.790 million shares cost N3.054 billion while Jaiz Bank traded 59.650 million shares worth N231.088 million.