Equity market gains N155bn

The local equity market on Monday opened in a positive trajectory, appreciating by N155 billion, as gains recorded in large cap stock boosted activities during the day.

Market capitalization of listed equities appreciated by 0.17 per cent to N90.115 trillion from N89.960 trillion report the previous day.

The NGX All Share Index also increased by 244.54 basis points to 142377.56 points from 142133.02 points recorded the previous day.

Volume of trades declined by 134.716 million, representing 25.97 per cent as investors traded 383.945 million against 518.661 million traded on Friday. Valued of transactions dipped by 35.63 per cent to settle at N11.617 billion.

The positive growth was driven was gains in some medium and large cap stocks including MTN Nigeria, BuaCement, Eunisell, Eterna SFSReits.

An analysis of the trading showed that ThomasWay and SFSReit led gainers table with 10 per cent each to close at N3.63 and N364.55 per unit, Living Trust Insurance followed with a gain of 9.90 per cent to close at N5.66 per share, Eterna added 9.86 per cent to close at N30.65 per share Caverton Business Solutions up by 9.28 per cent to close at N6.85 per share.

On the contrary, Mansard Insurance topped losers’ shares, dropping by 10 per cent to close at N14.40 per share, UPL trailed with a loss of 9.85 per cent to close at N5.40 per unit, Julius Berger fell by 8.70 per cent to close at N136.50 per unit, Cornerstone Insurance fell by 7.42 per cent to close at N5.86 per share.

Transactions during the day showed that Trading in the shares of FirstHoldco Plc led market activities with 47.493 million shares valued at N1.471 billion, EllahLakes followed with account of 24.461 million shares worth N290.868 million, Veritas Kapital exchanged 21.872 million shares valued at N44.658 million, Zenith Bank traded 18.746 million shares cost N1.306 billion while Chams Plc exchanged 16.764 million shares valued at N56.563 million.