The Nigerian equities market on Monday saw continued dominance to start the new week positive, driven by increased demand for Geregu Power Plc and 67 others.
As Geregu Power, Dangote Cement Plc, Dangote Sugar Refinery, NASCON Allied Industries and Flour Mills of Nigeria, and others appreciate, the overall market capitalisation rose by N875 billion to close at N46.317 trillion.
The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 1,597.93 basis points or 1.92 per cent to close at 84,640.89 basis points.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Geregu Power, Dangote Cement, Dangote Sugar Refinery, NASCON Allied Industries, and Flour Mills of Nigeria.
As measured by market breadth, market sentiment was positive, as 68 stocks gained relative to eight losers. Chams Holding Company, DAAR Communications, AXA Mansard Insurance, PZ Cussons Nigeria, Sovereign Trust Insurance, and Tantalizers emerged as the highest price gainers of 10 percent each to close at N2.53, 99 kobo, N6.49, N32.45, 66 kobo and 55 kobo respectively, per share.
Cadbury Nigeria followed with a gain of 9.98 percent to close at N26.45, while Jaiz Bank advanced by 9.93 percent to close at N3.32, per share.
On the other side, Abbey Mortgage Bank led others on the losers’ chart with 9.52 percent to close at N2.47, per share. Julius Berger followed with a decline of 3.54 percent to close at N54.50, while Custodian Investment shed 3.45 percent to close at N9.80, per share.
Africa Prudential lost 2.78 percent to close at N8.75, while FBN Holdings (FBNH) depreciated by 1.79 percent to close at N27.50, per share.
The total volume traded advanced by 34.4 percent to 807.51 million units, valued at N11.03 billion, and exchanged in 13,647 deals. Transactions in the shares of Transnational Corporation (Transcorp) led the activity with 66.895 million shares worth N956.007 million, AIICO Insurance followed with an account of 62.293 million shares valued at N78.987 million, while Wema Bank traded 41.573 million shares valued at N387.926 million.
Jaiz Bank traded 39.194 million shares worth N128.016 million, while FCMB Group traded 38.150 million shares worth N423.122 million.
Comments are closed.