Equity market gains N376n

The nation’s equity market on Monday started the week on a bullish note, appreciating by N376 billion, as investors renewed interested in the shares of United Bank for Africa, Sterling Bank, AccessCorps, Nigerian Breweries, among other.

Market capitalization of listed equities increased by 0.63 per cent to N59.801 trillion from N59.425 trillion reported the previous day.

The NGX All Share Index also appreciated by 620.33 basis points to 97690.61 points from 98070.28 points recorded on Friday.

The positive performance in the market during the day was driven by gains in the shares of Oando Plc, GTCO Plc, Mecure, United Bank for Africa, Zenith Bank and 26 other companies

As a result year to date return improved further to 31.99 per cent as the market recorded 31 gainers against 17 losers.

An analysis of the investment showed that Daar Communications and Ikeja Hotel led gainers’ table with 10 per cent each to N0.66 and N7.70 per share respectively. Seplat Energy followed with a gain of 9.99 per cent to close at N5788.20 per share, PZ Cussonadded 9.90 per cent to close at N21.65 per unit, Champion Breweries gained 9.65 per cent to close at N3.75 per unit.

On the contrary, Regal Insurance recorded the highest loss with a drop of 8.20 per cent to close at N0.56 per share, NSLTECH followed with account of 6.45 per cent to close at N0.58 per share. C&I Leasing dipped by 5.01 per cent to close at N3.60 per share, Omatek fell by 4.55 per cent to close at N0.63 per unit while Deap Capital shed 3.82 per cent to close at N1.26 per unit.

Volume of trades increased by 46.172 million representing 12.87 per cent as investors traded 405.022 million shares valued at N27.568 billion in 8287 deals against 358.85 million shares valued at N11.96 billion exchanged hands the previous day in 6719 deals.

Transactions in the shares of United Bank for Africa led market activities with 138.146 million shares valued at N3.601 million, Sterling Bank followed with account of 39.556 million shares cost N193.015 million, AccessCorp traded 29.945 million shares cost N598.895 million, Nigerian Breweries traded 23.392 million shares cost N654.829 million while FCMB group traded 20.157 million shares cost N169.366 million.