Equity market gains N303bn
Omeiza Bilal
The local equity market opened on a positive note, after public holiday to celebrate worker’s day, gaining N303 billion.
Market capitalisation of listed equities increased by 0.55 per cent to N55.856 trillion from N55.553 trillion reported previously.
The NGX All Share Index also appreciated by 537.15 basis points to 98762.78 points from 98225.63 points it closed on Friday.
The good market performance during the day was primarily driven by gains recorded in the medium and large stocks such Presco Plc Dangote Sugar, Zenith , Cap FBNHoldings, GTBank, Conoil Plc, AccessCorp, Flour Mills Nigeria Plc and among others.
As result year to date return stood at 32.08 per cent as NGX printed more gainers with 29 companies against 14 decliners.
An analysis of the investment showed that Presco Plc and Flour Mills Nigeria Plc led gainers table with 10 per cent each to close at N229.90 per share and N33.55 per unit respectively.
Sterling Bank followed with a gain of 9.98 per cent to close at N4.74 per share, Dangote Sugar up by 9.90 per cent to close at N42.75 per unit, Fidson added 9.76 per cent to close at N15.75 per unit.
On the contrary, Nascon recorded highest loss with a drop of 9.99 per cent to close at N47.30 per share, UPL trailed with a drop of 9.29 per cent to close at N2.05 per unit, Omatek dipped by 9.21 per cent to close at N0.69 per share, Neimeth international Pharmaceutical down by 9.09 per cent to close at N1.80 per share while Cutix Plc fell by 7.74 per cent to close at N2.86 per share.
Volume of activities went up by 112.989 million, representing 20.46 per cent as investors traded 665.198 million shares valued at N5.541 billion valued at N5.541 billion in 8446 deals against 552.209 million shares worth N14.919 billion in 9350 deals.
Transactions in the shares of Abbey Building Society led market activities with 362.820 million shares valued at N907.053 million, AccessCorp followed with account of 54.466 million shares worth N954.618 million, VaritasKapital traded 38.748 million shares worth N23.056 million, Nigerian Breweries traded 31.209 million shares valued at N802.431 million while Transnational Corporation of Nigeria exchanged 26.616 million shares cost N377.399 million.
