Equity market gains N324bn

Trading activities on the floor of Nigerian Exchange (NGX) on Monday opened week on a positive note, appreciating by N324 billion as bulls dominated the market.

Market Capitalisation of listed equities increased by 0.58 per cent to N56.452 trillion from N56.128 trillion reported the previous day.

The NGX All Share Index also appreciated by 571.38 basis points to 99793.71 points from 99222.33 point traded on Friday.

The good performance was driven by gain recorded in the shares of Julius Berger, Nigerian Breweries, SeplatEnergy, Stanbic, Zenith, AccessCorp, Transnational Corporatio of Nigeria, TranscoHotel, Total Plc among others.

As a result, year to date return went to 33.46 per cent as NGX printed 33 gainers against 10 losers.

An analysis of the investment showed that Flour Mills Nigeria Plc led gainers table with 10 per cent to close at N41.80 per unit, Total Plc followed with a gain of 9.98 per cent to close at N353.70 per share, AccessCorp gained 9.86 per cent to close at N18.95 per share, Chams Plc added 9.74 per cent to close at N1.69 per unit, Veritas Kapital grew by 9.52 per cent to close at N0.69 per share.

On the contrary, Etranzact topped losers’ chart, dropping by 9.90 per cent to close at N4.55 per share, Daar Communications trailed with a loss of 9.52 per cent to close at N0.57 per unit, Champion Breweries down by 6.67 per cent to close at N2.80 per share, Unity Bank fell by 6.67 per cent to close at N1.12 per unit, Wapic Insurance dipped by 2.86 per cent to close at N0.68 per unit.

Volume of transactions increased by 575.525 million, representing 148.33 per cent as investors traded 963.540 million shares valued at N13.497 billion in 8657 deals against 388.015 million shares worth N7.353 billion in 7106 deals.

Trading in the shares of Fidelity Bank led market activities with 605.256 million shares valued at N6.025 billion, AccessCorp followed with 93.067 million shares worth N1.744 billion, United Bank for Africa exchanged 58.725 million shares valued at N1.260 billion, Nigerian Breweries exchanged 45.256 million shares cost N1.267 billion while Zenith Bank exchanged 16.079 million shares cost N539.552 million