Gains in large cap stocks dominated transactions on the floor of the Nigeria Exchange Group Limited (NGX) on Monday, as the key benchmark index significantly increased to 1.96 percent to close the day’s session.
This is the sixth week of positive trajectory and continuous price jump at the equities market.
The NGX maintained its bull run with investors making additional N521.5 billion on market capitalisation to close at N27.981 trillion higher than Friday’s N27.459 trillion.
Consequently, the All-share index of listed equities appreciated by 967.45 absolute points, representing a 1.96 percent increase to close at 51,902.48 points compared to 58,935.03 points recorded on Friday.
The day’s gain came on the back of very high gains recorded on large cap securities such as ATI, First Bank Group, Nigeria Breweries, Cadbury, MTN Nigeria among others.
However, analysts say the market will see a break because of the influence of political activities in Nigeria as investors and fund managers will tend to observe the process before further investments.
The market sentiment, when measured by market breadth, was positive with 38 gainers’ and 21 losers’.
Top gainers include; Nigeria Breweries Plc with a 10 percent gain on its share price to close at N77.00, Cadbury Nigeria Plc followed with 9.96 percent gain to close at N14.90k.
Royal Exchange Plc had a 9.90 percent increase on its share to close at N1.11, Champion Breweries Plc made with 9.88 percent to close at N3.67k.
TRANSCOHOT led the losers’ table with 10 percent loss on its share price to close at N4.05.
Guinness Nigeria Plc followed led with a 9.59 percent loss to close at N99.45k, while MULTIVERSE depreciated by 9.09 percent to close at N0.20k.
The trading session saw a total volume of 337.5 million units of shares exchange hands in 7,684 deals.
