The Nigerian equities market started the new week on a bullish note as the All-Share Index, ASI surged by 2.22% to reach 104,674.67 basis points.
Although the bulls and the bears struggled for market dominance, thus leading to a higher number of losers 38 than 24 gainers.
The market capitalisation of listed equities experienced an upward trajectory of N1.24 trillion or 2.22% to close at N57.28 trillion, as the year-to-date return rose to 39.99%.
Based on the positive movement in the market, share prices of stocks such as OANDO, DANGCEM, TRIPPLEG, BERGER
and ROYALEX saw upward repricing, as their share prices increased by 9.96%, 9.93%, 9.89%, 9.81% and 8.97%, respectively.
In contrast, DAARCOMM, IKEJAHOTEL, CADBURY, NPF MICROFINANCEBK and ELLAHLAKES recorded major share price declines of 10.00%, 10.00%, 9.80%, 8.88% and 8.48%, respectively.
Trading activity at the Exchange in accordance with the strong market sentiment as evidenced in the upturn of the ASI, showed further improvement as the total deals, volume and value witnessed a parallel upswing by 40.58%, 32.84% and 193.06% to 15,887 trades, 689.93 million units and N25.94 billion.
Despite all these, performance across sub-sector gauges tracked was largely bearish, as four out of the five indices tracked closed in the red zone.
NGX Banking, NGX Insurance, NGX Consumer Goods and NGX Oil/Gas indexes dipped by 105bps, 92bps, 25bps and 12bps, respectively. The Industrial Goods sector was the sole gainer as it advanced by 6.65%.
JAPAULGOLD emerged as the most traded security in terms of volume with 83.86 million units changing hands in 766 deals, while DANGCEM led in traded value at N8.58 billion.
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