Equity market gains N477bn

The local equity market on Monday increased by N477 billion.

Market capitalisation of listed equities rose by 0.73 per cent to N66.069 trillion from N65.592 trillion reported the previous day.

But the NGX All Share Index declined marginally 41.70 basis points to 105891.33 points from 105933.03 points traded the previous day.

Volume of trades increased by 93.305 million, representing 19.69 per cent as investors traded 567.288 million shares valued at N10.413 billion in 17843 deals against 473.983 million shares cost N13.370 billion exchanged hands the previous day in 12793 deals.

An analysis of the investment showed that Stanbic IBTC, Smurfit and Betaglass led gainers table with 10 per cent to close at N69.20, N0.22 and N95.15 per unit respectively.

HoneyWell Flour followed with a gain of 9.98 per cent to close at N10.47 per unit, Eterna Plc added 9.96 per cent to close at N40.30 per share.

On the contrary, International General Insurance topped losers chart, dropping 10 per cent to close at N2.25 per unit, RTBriscoe trailed with a loss of 9.63 per cent to close at N2.44 per share, Julius Berger decreased by 8.44 per cent to close at N128.00 per unit. Deap Capital was down by 8.26 per cent to close at N1.00 while Daar Communications dipped by 7.41 per cent to close at N0.75 per unit.

Transactions in the shares of NSLTECH led market activities with 84.074 million shares valued at N55.184 million, Fidelity Bank followed with account of 67.830 million shares cost N1.361 billion, AccessCorp traded 40.205 million shares worth N1.139 billion, UPDC traded 36.648 million shares worth 10.378 million while AiICO insurance exchanged 27.232 million shares valued at N4.742 million.