The Nigerian Exchange’s equities section rises on Monday as investors take positions in mid and large-cap businesses ahead of results release. Today, the market consolidated its gains from the previous week.
Due to heavy bargain shopping, the stocks market capitalization increased by N272 billion or 0.95 percent to N28.953 trillion, up from N28.681 trillion on Friday.
According to bourse data, the All-Share Index (ASI) rose 499.95 points, or 0.95 percent, to close at 53,157.83, up from 52,657.88 on Friday. Stocks such as Geregu, Zenith Bank, Airtel Africa, and Wapco drove the positive performance, boosting the equity market’s year-to-date return to 3.72 percent.
Market breadth finished positive, with 28 stocks rising and 15 falling. A breakdown of price movement revealed that John Holt and Geregu Power were the highest gainers, each gaining 10% to close at N1.21 and N176 per share, respectively.
Nigerian Aviation Handling Company lagged with a 9.62 percent rise to N8.55, while International Energy Insurance gained 9.52 percent to N69k per share. Mayer& Baker Nigeria gained 8.26% to settle at N4.85 per share. Wapic Assurance, on the other hand, lead the losers’ table, falling 8.89% to settle at 41k per share.
Tripple Gee then fell 8.57 percent to settle at 96k per share. Honeywell Flour Mills lost 6.44 percent to settle at N2.18 per share, while the Royal Exchange slid 7.14 percent to close at 78k.
UPDC lost 5.94% to settle at 95k per share. Market activity analysis revealed that trade turnover settled higher than the previous session, with the value of transactions increasing by 141.78 percent.
A total of 201.36 million shares worth N5.67 billion were traded in 4,332 transactions, with sectoral performance uneven. The banking index increased by 0.7%, the consumer goods index increased by 0.2%, and the industrial goods index increased by 0.1%.
The Oil & Gas index closed flat while the Insurance index lost 0.2% – being the sole loser for the day. As measured by market breadth, market sentiment was positive (1.9x), as 28 tickers gained relative to 15 losers.
GEREGU (+10.0%) and JOHNHOLT (+10.0%) topped the gainers’ list, while WAPIC (-8.9%) and TRIPPLEG (-8.6%) recorded the most significant losses of the day.
