Equity market begins week positive, gains N17bn

The nation’s equity market opened the week in a positive note, gaining N17 billion.

Market capitalisation of listed equity market increased by 0.03 per cent to N56.945 trillion from N56.928 trillion reported the previous day.

The NGX All Share Index also appreciated by 30.20 basis points to 100568.60 from 100539.40 points traded on Friday.

The positive performance was primarily driven by gain recorded in the shares of Dangote Sugar, ETI, United Bank Africa, Zenith, Julius Berger and right others.

As a result year to date return increased to 34.50 per cent as NGX printed 23 gainers against 15 losers.

An analysis of the investment showed that Tantalizer led gainers table, gaining 8.89 per cent to close N0.49 per share, LiveStock Feed followed with a gain of 8.18 per cent to close at N2.38 per unit, Neimeth international Pharmaceutical gained 9.05 per cent to close at N1.88 per unit, Mcnichols gained 7.92 per cent to close at N1.09 per unit, Julius Berger added 5.71 per cent to close at N92.50 per share.

On the contrary, Caverton Business Solutions topped losers chart, dropping by 9.68 per cent to close at N1.40 per share, Royal Exchange trailed with a loss of 6.94 per cent to close at N0.67 per unit, VeritalKapital fell by 4.72 per cent to close at N1.01 per share, International Breweries dipped by 4.72 per cent to close at N3.68 per share, Honey Well Flour declined by 4.23 per cent to close at N3.17 per share.

Volume of activities declined by 268.18 basis points, representing 44.41 points as investors traded 335.704 million shares valued at N3.717 billion in 8760 deals against 603.884 million shares worth N9988 deals.

Transactions in the shares of EllahLakes led market activities,with 110.676 million shares valued at N33.016 million, Universal insurance followed with account of 21.891 million shares worth N7.480 million, United Capital exchanged 20.065 million worth N778.614 million, Verital Kapital traded 19.453 million shares valued at N20.194 million, FCMB group traded 14.731 million shares cost N112.203 million.