The Nigerian Exchange’s (NGX) equity market starts the week on a positive note as banking shares and MTN Nigeria equities advance. The second-most capitalized telecom business on the local exchange, MTN Nigeria, reported a 1.2% rise, which was a big contributor to the upward trend.
Accordingly, as compared to the 55,529.21 reached on Friday, the NGX All-Share Index (ASI) increased by 76.36 points or 0.14 percent to 55,605.57. Similar to this, market cap increased marginally by N42 billion to settle at N30.291 trillion, up from N30.249 trillion on Friday.
Gains in medium- and large-capitalized equities, including MTN Nigeria, WAPCO, UBA, Unity Bank, Julius Berger, and International Energy Insurance, had an influence on the recovery.
16 stocks saw gains and 20 stocks showed decreases, resulting in a negative market breadth at the close. The biggest price increase, 10%, was achieved by Julius Berger, which closed at N26.95 per share.
International Energy Insurance increased by 8.33 percent to conclude at N1.30 per share, while Unity Bank gained 9.26% to close at 59k per share.
Although Chams gained 4% to settle at 26k per share, Livestock gained 4.67 percent to close at N1.12 per share. On the other hand, Computer Warehouse Group topped the list of losers, losing 7.14k, or 1%, to settle at 91k per share.
Following FTN Cocoa Processors, which had a decrease of 6.67% to close at 28k per share, and OandO, which saw a decline of 4.39% to close at N4.36 per share. Japaul Gold & Ventures dropped 3.45 percent to settle at 28 thousand a share, while Courteville Business Solutions lost 4.17 percent to close at 46 thousand.
The total amount of shares traded decreased by 33% to 125.55 million, with N2.48 billion changing hands in 4,076 trades. In comparison, 3,962 transactions totaling 184.24 million shares worth N2.54 billion were made on Friday.
Transactions in the shares of Transcorps topped the activity chart with a total of 11.8 million shares valued at N15.36 million. Guaranty Trust Holding Company (GTCo) came second with 9.4 million shares worth N248.3 million, while UBA traded 9.19 million shares valued at N79.04 million.
OandO sold 8.35 million shares worth N36.78 million, while Fidelity Bank transacted 6.45 million shares valued at N33.19 million.
Today, sectoral performance was mixed, as the Banking (-0.3%) and Consumer Goods (-0.1%) indices printed losses, while the Insurance (+0.1%) index advanced. On the other hand, the Industrial Goods and Oil & Gas indices closed flat. NGX Gains N42bn as MTNN, Unity, UBA Rally
 equity market starts the week on a positive note as banking shares and MTN Nigeria equities advance.){kind=link}