Equity market opens bullish, gains N152bn

The domestic equity market on Monday opened week on a positive note, appreciating by N152 billion.

Market capitalisation of listed equities increased by 0.18 per cent to close at N83.393 trillion from N83.241 trillion reported the previous day.

The NGX All Share Index also appreciated by 241.11 basis points to 131826.77 basis points to 131585.66 points traded the previous day.

Analysis of the trading during the day showed that three companies, NCR, International General Insurance and Cutix Plc led gainers table with 10 per cent to close at N7.26, N2.20 and N11.03 per share respectively.

TIP followed with a gain of 9.97 per cent to close at N11.03 per share, Caverton Business Solutions increased by 9.75 per cent to close at N7.09 per unit.

On the contrary, Meyer Paint topped losers chart declining by 10 per cent to close at N18.90 per share, Mcnichols trailed with a loss of 9.95 per cent to close at N3.44 per unit, Thomas Way fell by 9.84 per cent to close at N3.39 per unit, Deap Capital sheds 9.77 per cent to close at N1.20 per share, Sovereign Trust Insurance dropped by 9.63 per cent to close at N1.22 per share.

Volume of transactions declined by 2.641 billion, representing 78.91 per cent as investors traded 706.038 million shares valued at N21.559 billion in 30750 deals against 3.347 billion shares valued at N62.388 billion exchanged hands the previous day in 28593 deals.

Trading in the shares of Access Holding Company led market activities with 61.732 million shares valued at N1.635 billion, Conhall Plc followed with an account of 43.984 million shares worth N133.777 million, Chams Plc traded 38.661 million shares cost N118.425 million, United Bank for Africa exchanged 32.888 million shares valued at N1.503 billion while Zenith Bank traded 24.603 million shares valued at N1.727 billion.