Stock market index gains 0.71%

Chiamaka Okechukwu

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The Nigerian Stock Market started on a positive territory as it gained 0.71 percent on its benchmark index at the end of business on Monday.

READ ALSO: NGX indices end week on positive note

Trading activities on the Nigerian Exchange Group Limited, NGX recorded an extension of gains from last week on the backdrop of impressive half-year earnings report from the banking sector.

The NGX market capitalisation inched up by N263 billion to close at N37.149 trillion higher than the N36.886 trillion recorded on Friday.

Similarly, the All-Share Index appreciated by 481.43 basis points, representing a 0.71% increase to close at 67,877.74 points compared to Friday’s 67,395.74 points.

On activity level, the market sentiment when measured by the market breadth at end of Monday’s trading session; volume and value closed positive with 515.28 million unit of shares valued at N8.93 billion exchanging hands in 8, 357 deals.

Airtel plus five other stock accounted for
70% of today’s trade in terms of volume and value.

Investors also recorded gains on 29 stocks as against losers 26 losers.

Profit-taking activities in the share of CHAMS, NNFM and OANDO led to a 10% gain on their respective share prices as they close at N1.21k, N14.85k and N75.50k.

STANBIC followed with a 9.58% profit on its share price to close at N75.50k; then LASACO recorded a 9.38% gain on its share price to close at N12.10k.

OMATEK led the losers list with a 10% loss on its share price to close at N0.36k. SKYAVN followed with a 9.95% drop on its share to close at N25.35k while BETAGLAS shares dropped by 9.93%, to close at N46.70k.

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