Following a week of losses, the Nigerian Exchange (NGX) gained more than N203 billion. The bulls returned to the local market, breaking the bears’ hold on key performance measures.
The Nigerian Exchange All-Share index increased by +0.60% on Monday. In addition, the year-to-date gain on the local market increased to 22.81% as a result of strong price movement on the local bourse. The market index, or All-Share Index, gained 373.62 basis points, or +0.60%, to end at 62,943.35 points.
Market activity improved, with total volume and total value traded for the day increasing by +18.24% and +56.66%, respectively. Atlass Portfolios Limited market traders informed investors through email that about 710.02 million units priced at $13,829.29 million were transacted in 8,979 deals.
STERLING was the most traded stock by volume, accounting for 9.30% of total transaction activity. The tier 2 financial institution was followed on the volume chart by TRANSCORP (8.77%), UNITYBNK (8.41%), ACCESSCORP (7.20%), and UNIVINSURE (7.02%).
DANGCEM was the most traded stock in terms of value, accounting for 54.25% of all transactions on the exchange. DAARCOMM, FIDELITYBK, and UNILEVER led the advancers’ chart with price increases of more than 10% apiece.
STERLINGNG (9.97%), JOHNHOLT (+9.94%), GOLDBREW (+9.90%), WEMABANK (+9.88%), and thirty-four other stocks trailed these. According to market statistics, 27 stocks fell in value. PZ, UBN, and VERITASKAP were the biggest losers, with price declines of -10.00% apiece.
FTNCOCOA (-9.93%), ETERNA (-9.89%), ABBEYBDS (-9.87%), NNFM (-9.78%), and JAPAULGOLD (-9.09%) also dipped in price. On Monday, the market breadth closed positive, recording 41 gainers and 27 losers. Despite the rebound, the market sector performance closed negative.
Three of the five major market sectors were down, led by the Industrial sector (-0.69%), followed by the Consumer goods sector (-0.66%), and the Oil & Gas sector (-0.62%), while the Banking and Insurance sectors were up by +7.57% and +0.37% respectively. Overall, market capitalisation rose by ₦203.44 billion, representing a rise of +0.60%, to close at ₦34,273.28 trillion from ₦34,069.84 trillion last Friday.
