Local equity market opens week bullish, gains N786bn
The local equities market on Monday opened in bullish run, appreciating by N786 billion as gains in the shares of Seplat, and others drove market activities
Market capitalisation of listed equities gained 0.86 per cent to N91.921 trillion from N91.135 trillion reported on Friday.
The NGX All Share Index also appreciated 1238.73 basis points to 144822.77 points from 143584.04 points reported previously.
The positive performance was driven by the wave of investors rekindled buying interests in blue chip companies and their move to reposition their stocks ahead of third quarter earnings report.
The market during the was positive with 44 advancers and 22 losers bringing the year-to-date return to 40.71 per cent.
A review of trading for the day showed that Mansard Insurance and Seplat Energy led gainers table with 10 per cent each to close at N15.84 and N5917.20 per unit. SFSReit followed with a gain of 9.97 per cent to close at N381.10 per unit, EllahLakes added 9.95 per cent to close at N14.81 per share, Chams Plc gained 9.87 per cent to close at N4.23 per share.
On the contrary, International General Insurance recorded highest loss, shedding 8.42 per cent to close at N2.72 per unit, Mcnichols followed with a drop of 8.31 per cent to close at N3.20 per unit, Thomas Way down by 7.72 per cent to close at N2.99 per unit, Berger Paint fell by 6.80 per cent to close at N37.00 while ABC Transport declined by 5.81 per cent to close at N4.05 per unit.
Volume of trades declined by 24.821 million, representing 4.56 per cent as investors traded 519.921 million shares against 544.721 million units the previous day. Value of transactions also dipped by 23.89 per cent to settle at N14.546 billion against N19.627 billion in 35490 deals.
