Local equities gain N1.908trn

The domestic equities market opened week on a positive note, appreciating by 1.908 trillion as gains in mid cap and capitalised stocks impacted positively on the performance of the trading during the day.

This resulted in market capitalisation of listed equities increasing by 1.20 per cent to N160.421 trillion from N158.513 trillion reported the previous day.

The NGX All Share Index also increased by 2956.15 basis points to 248529.75 points from 245573.60 traded on Friday.

The market breath was negative with 23 advancers against 36 decliners, but gains recorded in the AirtelAfrica, GTCO Plc, AccessCorp, Zenith Bank Nahco outweigh losses in the Ava Capital, Caverton, Ikeja Hotel among others, pushing the market to close higher by 59.73 per cent.

A review of trading for the day showed that FTG Insurance led gainers table with 10 per cent to close at N2.86 per unit, Chams Plc followed with a gain of 9.80 per cent to close at N4.48 per share, Nahco Plc appreciated 9.29 per cent to close at N150.00, Airtel Africa added 8.59 per cent to close at N6300, Chams Plc added 7.35 per cent to close at N4.38 per share, Access Holdings Company gained 6.68 per cent to close at N28.75 per unit.

On the contrary, Ava Capital topped losers’ chart, dropping by 10 per cent to close at N9.90 per unit, Ecobank Transnational Incorporated trailed with a loss of 9.92 per cent to close at N64.95 per shares MFBank down by 9.89 per cent to close at N4.10 per share, Caverton Business Solutions dipped by 9.09 per cent to close at N5.00 while Ikeja Hotel declined by 8.41 per cent to close at N43.00 per units.

Volume of trades went down by 381.00 million representing 25.09 per cent as investors traded 1.137 billion shares against 1.518 billion traded the previous day.

The value of trades was up by 1.39 per cent to settle at N27.02 billion in 59185 deals.

Transactions in the shares of Conhall Plc led market activities with 354.723 million shares valued at N1.533 billion, FTGinsurance followed with account of 307.342 million shares valued at N812.332 million, AccessCorp traded 48.075 million shares cost N1.368 billion, FirstHoldco exchanged 35.754 million shares worth N5.118 billion while Chams Plc traded 37.370 million shares valued at N163.296 million