Equities market opens bullish, gains N1.518bn

Agency Report

The local equities market opened the week on a positive note, appreciating N1.518 trillion as gains recorded in highly capitalised stocks lifted trading activities.

Market capitalization of listed equities added 1.0 per cent to N152.845 trillion from N151.327 trillion reported the previous day.

The NGX All Share Index also appreciated 2,277.92 basis points to 238219.19 points from 235941.27 points recorded on Friday.

Volume of trades up by34.452 million, representing 7.82 per cent, as investors traded 475.816 million shares against 440.364 million recorded the previous trading day. Valued of shares executed rose by 47.88 per cent to settle at N36.492 billion in 63567 deals.

Although the market breath was negative with 35 decliners against 17 advancers, gains in the shares of GTCO, FirstHoldco, Zenith Bank and others impacted positively on the market performance, bringing year to date return to 53.08 per cent.

An analysis of the investment showed that FirstHoldco and GTCO Plc led gainers table with 10 per cent each to close at N60.50 and N127.10 respectively, international General Insurance followed with a gain of 9.88 per cent to close at N5.56 per unit, Mcnichols gained 9.56 per cent to close at N7.46 per share, Zenith Bank added 7.09 per cent to close at N117.80 per share.

On the contrary, Zichis Plc topped losers’ chart, dropping by 10 per cent to close at N23.40 per unit, Conhall trailed with a loss of 9.94 per cent to close at N6.43 per unit, Eterna Plc dipped by 9.90 per cent to close at N27.75 per share, DeapCapital declined by 9.82 per cent to close at N4.41 per unit, AustinLaz fell by 9.74 per cent to close at N3.82 per unit.

Transactions in the shares Fidelity Bank led market activities with 48.753 million shares valued at N894.216 million, United Bank for Africa followed with account of 42.282 million shares worth N1.690 billion, Access Holdings company traded 39.251 million shares cost N886.126 million, Zenith Bank traded 30.042 million shares valued at N3.455 billion, MTN Nigeria exchange 20.824 million shares valued at N16.598 billion.