Equity market opens positive note, gains. 228bn

Trading activities on the floor of Nigerian Exchange on Monday opened week in the positive note, appreciating by N228 billion as bulls dominated the market.

Market capitalization of listed equities increased by 0.34 per cent to N66.694 trillion from N66.465 trillion recorded the previous day.

The NGX All Share Index also appreciated by 363.57 basis points to 106116.18 points from 105752.61 points recorded at the close of trading on Friday.

The positive performance was driven by gains in the shares of Cap Plc, Dangote Sugar, GTCO Plc, Nahco, Oando among others.

As a result year to date return went up to 3.10 per cent as 47 companies appreciated in price against 16 firms took negative performance.

An analysis of the investment showed that International Breweries led gainers table with 10 per cent to close at N8.47 per unit, Legend International followed with a gain of 9.97 per cent to close at N7.50 per share, Cadbury Nigeria Plc  gained of 9.97 per cent to close at N29.25, Fidson health recorded an increase of 9.95 per cent to close at N20.45 per share, Eterna Plc added 9.90 per cent to close at N43.85 per share.

LiveStock feeds topped losers chart, dropping by 10 per cent to close at N8.55 per unit, Aradel trailed with a loss of 9.86 per cent to close at N448.0 0 per share, Triple G declined by 9.60 per cent to close at N1.74 per unit, JohnHolt dipped by 7.94 per cent to close at N5.80 per share, Linkage Assurance down by 6.15 per cent to close at N1.22 per share.

Volume of trades increased by 72.51 million, representing 16.93 per cent as investors traded 500.594 million shares valued at N12.110 billion in 17637 deals against 428.082 million shares cost N20.174 billion exchanged hands the previous day in 14284 deals.

Transactions in the shares of AccessCorp led market activities with 60.867 million shares valued at N1.448 billion, Fidelity Bank followed with account of 56.105 million shares valued at N1.127 billion, United Bank for Africa exchanged 34.529 million shares valued at N1.174 billion, GTCO Plc traded 33.497 million shares valued at N2.181 billion while Nigerian Breweries exchanged 28.34.