Equity market gains N58bn in first trading day

The domestic equity market on Monday opened week in positive direction, appreciating by N58 billion as trading during the day dominated with bullish activity.

Market capitalization of listed equities increased by 0.10 per cent to N56.635 trillion from N56.577 trillion reported the previous day.

The NGX All Share Index also appreciated by 100.11 basis points to 98558.79 points from 98458.68 points recorded the previous day.

The good performance recorded during the day was driven by gain in the shares of Access Bank, GTCO Plc, Guinness Nigeria Plc, Oando, Stanbic IBTC, Zenith, UBA among others.

As a result year to date gain went up to 31.81 per cent as 32 companies closed in green while 23 firms recorded negative performance.

A review of investment during the day showed that NSL Tech, Abbey Building Society and Africa Prudential led gainers table with 10 per cent each, to close at N0.66 , N2.75 and N9.90 per share respectively.

Triple G followed with a gain of 9.93 per cent to close at N4.54 per share, Deap Capital added 9.91 per cent to close at N1.22 per unit.

On the contrary, EllahLakes topped losers chart, dropping by 9.96 per cent to close at N4.43 per unit, Neimeth international Pharmaceutical trailed with a loss of 9.81 per cent to close at N1.93 per unit, Academy press dipped by 9.78 per cent to close at N2.86 per share, Caverton Business Solutions fell by 9.70 per cent to close at N2.42 per share, UPL down by 8.44 per cent to close at N2.17 per share.

Volume of activities increased by 1.059 billion, representing 132.94 per cent as investors traded 1.857 billion shares valued at N111.579 billion in 10583 deals against 797.214 million shares cost N6.656 billion in 7764 deals.

The result further showed that transactions in the shares of Guinness Nigeria Plc led market activities with 1.273 billion shares worth N103.868 billion, Japaul Gold followed with account of 182.751 million shares valued at N463.375 million, United Bank for Africa traded 45.195 million shares cost N1.279 billion, AccessCorp traded 34.887 million shares valued at N707.411 million, Veritas Kapital exchanged 30.418 million shares worth N45.333 million.