Equity market gains N285bn

The domestic equity market on Monday opened in positive note, appreciating by N285 trillion as bulls dominated the trading activities.

Market capitalisation of listed equities added 0.31 per cent to N89.493 trillion from N89.208 trillion it closed on Friday.

The NGX All Share Index also appreciated by 429.27 basis points to 141433.41 points from 141004.14 points reported the previous day.

The market breath was position with 31 gainers against 17 decliners bringing year to date return to 37.41 per cent.

Volume of transactions declined by 711.755 million, representing 54.62 per cent as investors traded the 591.245 million shares against 1.303 billion traded the previous day. Value of shares traded declined by 75.63 per cent to settle at N11.658 billion in 33342 deals.

An analysis of the investment showed that Julius Berger led gainers table with 9.93 per cent to close at N146.10 per unit, Cutix Plc followed with a gain of 9.70 per cent to close at N3.90 per unit, Regal Insurance gained 9.70 per cent to close at N1.47 per share, Veritas Kapital grew by 9.60 per cent to close at N2.17 per share, Mcnichols increased by 9.60 per cent to close at N3.50 per unit.

On the contrary, UPL topped losers’ chart with a loss of 9.92 per cent to close at N5.54 per share, Cadbury Nigeria Plc dipped by 9.61 per cent to close at N57.85 per share, Abbey Building Society fell by 8.39 per cent to close at N6.55 per share, Daar Communications declined by 7.44 per cent to close at N1.12 per share, AustinLaz down by 6.55 per cent to close at N2.71 per unit.

Trading in the shares of FCMB group led market activities with 105.126 million shares valued at N1.144 billion, Veritas Kapital followed with account of 59.573 million shares cost N128.805 million, Universal insurance traded 34.398 million shares cost N45.211 million, AIICO Insurance exchanged 26.203 million shares worth N111.910 million, GTCO Plc traded 2&.003 million shares cost N2.399 billion.