Trading on the Nigerian Exchange Ltd., (NGX) opened the week on a positive note on Monday as the market capitalization gained N96,08 billion, an increase of 0.34 percent.
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Specifically, the market capitalization closed at N28.619 trillion, compared to the N28.523 trillion on Friday.
The All-Share Index also inched higher by 0.34 percent to 53,086.46 points from the 52,908.24 posted on Friday.
The gain was a result of buying interests in large and medium stocks such as MTN Nigeria, First Bank of Nigeria Holdings (FBNH), and Conoil, amongst others.
Consequently, the Month-to-Date and Year-to-Date returns advanced to 0.2 percent 24.28 percent respectively.
Analysts at Vetiva Dealing said: “Despite the green close, the market traded quietly with block trades in a single stock accounting for most of the day’s volume.
“We anticipate improved activity across the board in tomorrow’s session amid continued bargain hunting activities.”
Performance across sectors was mixed, as the Oil & Gas gained by 0.7 percent and Industrial Goods by 0.1 percent.
Insurance, Banking, and Consumer Goods declined by 0.4 percent, 0.4 percent, and 0.1 percent respectively.
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Market sentiment as measured by market breadth was positive with 19 gainers relative to 12 losers.
Conoil emerged as the day’s highest price gainer with 9.97 percent to close at N32. Pharmdeko rose by 9.37 percent to close at N1.75.
Learn Africa added 8.72 percent to close at N2.37. FTNCocoa garnered 5.88 percent to close at 36 kobos. Chams gained 4.17 percent to close at 25k.
JapaulGold led others on the losers’ chart with 6.25 percent to close at 30k.
ABC Transport followed with 6.06 percent to close at 31k. Unilever dropped 3.01 percent to close at N14.50.
AIICO Insurance depreciated by 2.94 percent to close at 66k, while Jaizbank declined by 2.22 percent to close at 88k.
FBNH was the toast of investors during the day, exchanging 610.41 million shares valued at N6.78 billion, while Flour Mills traded 22.97 million shares valued at N803.92 million.
WAPIC followed with an account of 21.60 million shares worth N8.79 million.
Transcorp exchanged 11.57 million shares worth N14.56 million and Zenith Bank sold 8.92 million shares worth N208.88 million.
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The total volume of shares traded increased by 167 percent to 755.62 million units, valued at NGN8.9 billion, and exchanged in 4,297 deals.
FBNH was the most traded stock by volume and value at 610.41 million units and NGN6.78 billion, respectively
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