Due to investor interest in Guaranty Trust Holding Company (GTCO), Zenith Bank, and 32 other stocks, the Nigerian stock market continued its upward trend on Monday, rising 0.7%.
In particular, the market capitalization increased by N404 billion, or 0.7%, from its opening value of N57.293 trillion to close at N57.697 trillion. As a result, the All-Share index ended the day at 102,044.84, up 714 points or 0.7% from its Friday closing of 101,330.85.
The market’s success was further enhanced by Transcorp Power (TransPower), Wema Bank, Honeywell, and other top gainers. Consequently, the year-to-Date (YTD) return increased to 36.47%. The market’s breadth, on the other hand, closed higher, with 34 equities rising and 16 falling.
On the gainer’s table, Honeywell Flour and NEM Insurance led in percentage terms of 10 each to close at N3.74 and N6.05 per share, respectively. Dangote Sugar followed by 9.97 percent to close at N61.20, while the National Salt Company of Nigeria (NASCON) gained 9.92 percent to close at N57.60 per share.
Also, Wema Bank added 9.79 percent to close at N7.85 per share. On the other hand, Prestige Assurance Company led the loser’s table by 10 percent to close at 54k per share. LASACO Assurance lost 9.83 percent to close at N2.11 per share, while UACN of Nigeria Plc shed 9.68 percent to close at N12.60 per share.
RT Briscoe dropped 8.16 percent to close at 45k, while International Energy Insurance (IEI) dropped by 7.74 percent to close at N1.55 per share. However, market activities indicated trade turnover decreased relative to the previous session. A total of N17.09 billion shares were exchanged in 11,344 deals, compared to 358.12 million shares valued at N19.88 billion in 10,786 deals on Friday.
Meanwhile, GTCO led the activity log-in volume with 96.63 million shares traded for a value of N4.02 billion, followed by Transcorp with 73.86 million shares worth N1.23 billion.
Access Corporation (AccessCorp) sold 48.09 million shares valued at N988.35 million, while the United Bank of Africa (UBA) traded 21.58 million shares worth N497.31 million. NASCON transacted 19.57 million shares worth N1.13 billion.
