Domestic starts week bullish, gains N1.78trn on strength of capitalised stocks
Agency Report
The Nigeria All Share Index (ASI) closed on Monday on a strong note, climbing by 1.99 per cent to settle at 144074.23 points.
The index went up by 2811.18 basis points from 141263.05 points reported on Friday.
The rally was supported by sustained buying interest in highly capitalised stocks, especially in the banking, insurance, industrial and oil and gas sectors.
With positive performance recorded during the day, market capitalization of listed equities went up by N1.777 trillion, representing a surge of 1.99 per cent to N91.149 trillion from N89.372 trillion reported the previous day.
The NGX trading result showed that gains recorded in the shares of Buafood, BuaCement, Dangote Cement, UACN, Vitafoam Nigeria Plc and boosted market activities during the day.
The market breath was positive with 46 gainers against 23 decliners, as a result year to date return up by 39.98 per cent.
An analysis of the investment showed that UPDC, Lasaco and Loyal Exchanged led gainers table with 10 per cent to close at N5.94, N2.86 and N1.65 per unit respectively, UACN followed with a gain of 9.97 per cent to close at N97.10 per share while Sovereign Trust Insurance added 9.94 per cent to close at N1.88 per share
On the contrary, Academy press and Transpower topped losers’ chart, dropping by 10 per cent to close at N9.90 and N285.00 per shared respectively. John Holt trailed with a loss of 5.59 per cent to close at N6.60 per share, Total Nigeria Plc dipped by 9.22 per cent to close at N640 per unit while Ecobank Transnational incorporated dipped by 9.20 per cent to close at N340.00.
The volume and valued of trades declined by 24.83 per cent and 27.48 per cent respectively as investors traded 811.096 million shares valued at N19.471 billion in 35963 deals against 1.079 billion shares worth N19.471 billion exchanged hands the previous day in 37370 deals.
FCMB group led market activities with 84.948 million shares worth N979.415 million, Universal insurance followed with account of 82.511 million shares worth N61.681 million, Fidelity Bank exchanged 45.429 million shares valued at N958.597 million, AIICO Insurance traded 40.148 million shares cost N94.292 million while Veritas Kapital traded 39.969 million shares cost N60.257 million.
