Equity market gains N124bn

The domestic equity market on Monday opened the week on a positive note improving by N124 billion.

Market capitalization of listed equities appreciated by 0.22 per cent to N55.601 trillion from N55.477 trillion it closed on Friday.

The NGX All Share Index also appreciated by 214.41 basis points to 96793.95 points from N96579.54 points traded the previous day.

The gains recorded in the shares of Oando Plc, Nestle Nigeria Plc, UBA, Zenith Bank, GTCO, Flour Mills Nigeria Plc, Eterna Conoil, AccessCorp and 20 others boosted market activities during the day.

As a result year to date return increased to 29.45 per cent as NGX printed 28 gainers against 29 losers.

An analysis of the investment showed that Oando Plc led gainers table, appreciating by 9.95 per cent to close at N84.55 per unit, IMG followed with a gain of 9.85 per cent to close at N29.00 per share, Etranzact recorded gain of 9.80 per cent to close at N5.60 per unit, Conoil Plc added 9.72 per cent to close at N158.00 per unit, UPL up by 9.13 per cent to close at N2.51 per share.

On the contrary, Livestock Feeds topped losers chart, dropping by 10 per cent to close at N2.25 per unit, RTBriscoe trailed with a loss of 9.86 per cent to close at N3.20 per share, Cornerstone Insurance dipped by 9.63 per cent to close at N2.44 per unit, Daar Communications fell by 9.59 per cent to close at N0.66 per share , Wapic Insurance down by 7.41 per cent to close at N0.77 per share.

Volume of trades declined by 75.842 million, representing 13.21 per cent as investors traded 498.119 million shares valued at N11.036 billion in 13149 deals against 573.961 million shares worth N31.576 billion exchanged hands the previous day in 12714 deals.

Transactions in the shares United Bank for Africa led market activities with 54.847 million shares valued at N1.324 billion, Zenith Bank followed with account of 39.982 million shares worth N1.592 billion, Oando Plc traded 38.386 million shares valued at N3.201 billion, AccessCorp exchanged 36.625 million shares cost N702.996 million, Prestige insurance traded 24.623 million shares valued at N12.501 million.