Trading of equities on the floor of the Nigerian Exchange Limited, NGX began this week with bullish sentiments with the benchmark index rising by 0.35%.
At the close of transactions on Monday, the All-Share Index grew 181.2 basis points or 0.35% to close at 52,369.13 basis points up from Friday’s 52,187.93 basis points.
The Market capitalisation increased by ₦98bn or 0.35% from previous closing of ₦28,417trn to settle at ₦28,515trn on Monday.
Bargain hunting in telco heavyweight MTN NIGERIA COMMUNICATIONS PLC (+0.87%), alongside gains in Tier-1 banking names ZENITH BANK PLC (+1.73%) and GUARANTY TRUST HOLDING COMPANY PLC (+2.07%) triggered the markets performance.
Analysis of today’s market activities showed that a total of 315.70 million units of shares valued at ₦4.03bn were exchanged in 5,847 deals.
ZENITH BANK PLC led the volume and value charts with 53.43m units traded in deals worth ₦1.38bn.
As measured by market breadth, market sentiment was positive as 31 advancing issues outnumbered 15 declining ones.
IKEJA HOTEL PLC (+9.85%) and ACADEMY PRESS PLC (+9.80%) topped the gainers’ list, while NCR (NIGERIA) PLC (-9.71%) and SOVEREIGN TRUST INSURANCE PLC (-8.89%) recorded the most significant losses of the day.
On sectoral performance, the Insurance (+1.3%), Banking (+0.9%), and Consumer Goods (+0.4%) indices gained, while the Oil & Gas (-0.6%) index closed lower. However, the Industrial Goods index was flat.
