Domestic equities open week positive, gain N1.914trn

Trading on the floor of Nigerian Exchange NGX on Monday opened on a positive note, appreciating by N1.914 trillion as gains recorded in mid-caps and capitalised stocks lifted trading activities during the day.

This resulting in market capitalization of listed equities appreciating by 1.2 per cent to N157.739 trillion from N155.825 trillion reported the previous day.

The NGX All Share Index also increased by 2,900.92 basis points to 244199.39 points from 241298.47 points recorded on Friday.

The positive performance recorded during the day was driven by gains in the shares of Aradel Plc, GTCO Plc, Nigerian Breweries,ETI, UBA, Zenith Bank, AccessCorp, HBMNG among others.

The market breadth was positive with 43 advancer and 16 decliners bringing year to date return to 56.93.

An analysis of the investment showed that Omatek led gainers table with 10 per cent to close at N1.65 per unit, Ikeja Hotel followed with a gain of 9.95 per cent to close at N42.56 per share, Sovereign Trust Insurance added 9.94 per cent to close at N9.88 per share, SUNUAssurance added 9.86 per cent to close at N3.12 per share, Access Holdings Company increased by 9.32 per cent to close at N32.25 per share, Nigerian Breweries gained 9.22 per cent to close at N75.80 per share.

On the contrary, Abbey Building Society topped losers’ chart, dropping by 9.41 per cent to close at N7.70 per unit, AvaCap trailed with a loss of 7.69 per cent to close at N6.00 per share. FTNCocoa declined by 6.25 per cent to close at N7.50 per share, Varitas Kapital dropped by 5.17 per cent to close at N1.10 per share.

Further analysis showed that Volume of trades up by 1.02 million, representing 0.17 per cent as investors traded 606.19 million shares against 605.17 million shares recorded the previous day. Value of transactions up by 29.56 per cent to settle at N38.70 billion in 53471 deals.

Transactions in the share of Access Holdings Company led market activities with 121.130 million shares valued at N3.775 billion, GTCO Plc followed with account of 32.362 million shares worth N4.262 billion, United Bank for Africa traded 31.489 million shares valued at N1.453 billion, Nigerian Breweries traded 31.245 million shares cost N2.214 billion, Veritas Kapital sold a total of 28.981 million shares cost N32.175 million.