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Stock market opens week with N53.51bn gain

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The Nigerian Exchange (NGX) Ltd. on Monday recorded a gain of N53.51billion following investors’ interest in Union Bank and Access Bank.

Specifically, the market capitalisation garnered N53.51billion or 0.20 per cent to close at N26.18 trillion from N26.125 trillion on Friday.

Also, the All-Share Index advanced by 99.26 points or 0.20 per cent to close at 48,558.91 against 48,459.65 achieved on Friday.

Accordingly, the Month-to-Date and Year-to-Date gains increased to 3.4 per cent and 13.7 per cent respectively.

The result was impacted by gains recorded by Guaranty Trust Holding Company(GTCo), United Bank for Africa (UBA), Zenith Bank Stanbic Bank and First Bank Nigeria Holdings (FBNH), WAPCO and Dangote Cement.

Sectoral performance was positive, as Consumer Goods increased 2.5 per cent, followed by Oil & Gas with 1.4 per cent while Insurance and Banking rose by 0.4 per cent and 0.3 per cent respectively.

The Industrial Goods, however, dropped by 1.1 per cent, making it the only index as loser at today’s trading.

Overall, the market was positive with 42 gainers relative to 15 losers.

UPCredit drove the gainers’ chart in percentage terms by 10 per cent to close at N3.85 per share.

Ikeja Hotel and Eternal Oil followed with a gain of 9.92 per cent to close at N1.85 and N7.31 per share, respectively.

Oando went up by 9.9 per cent to close at N6.44 while Sky Aviation appreciated by 9.89 per cent to close at N7 per share.

On the other hand, Unity Bank and Academy Press led the losers’ chart in percentage terms by six per cent to close at 47k and N1.10 per share respectively.

Japaul Gold followed with 5.88 per cent to close at 32k per share.

UPDC shed 4.49 per cent to close at 85k, while WAPIC lost 4.35 per cent to close at 44k per share.

Also, the total volume traded rose by 24.8 per cent to 328.39 million units valued at N4.04 billion and exchanged in 5,711 deals.

Transactions in the shares of Zenith Bank topped the activity chart with 35.84 million shares valued at N912.15 million.

Oando followed with 30.817 million shares worth N198.28 million, while Mansard traded 23.07 million shares valued at N58.73 million.

Transcorp traded 20.68 million shares valued at N22.25 million, while FBNH transacted 20.09 million shares worth N240.04 million.

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Olawunmi Ashafa

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