Stock market extends gain marginally by 0.04%

The Nigerian Exchange Ltd. (NGX) recorded a marginal gain of N9 billion on Monday due to sustained bargain-hunting.

Specifically, the market capitalisation, which opened at N26.624 trillion, rose by N10 billion or 0.04 per cent to close N26.634 trillion.

Also, the All-Share Index increased by 17.15 points or 0.04 per cent to close at 48,899.08 against 48,881.93 achieved on Friday.

As a result, the year-to-date (YTD) return stood at 14.47 per cent.

The gains were driven by price appreciation in Tier-One banks and largly capitalised stocks amongst which are FBN of Nigeria Holdings, Zenith Bank, WAPCO and Stanbic Bank.

Consequently, market sentiment was negative with eight stocks recording gains and 10 losses, respectively.

Learn Africa led the gainers’ table in percentage terms, gaining 9.7 per cent to close N1.81 per share

Jaiz Bank trailed with 9.20 per cent to close at 95k, while SCOA Nigeria rose by 8.86 per cent to close at 86k per share.

Sunu Assurances followef with a gain of 7.14 per cent to close at 30k, while Japaul Gold and Ventures grew by 3.7 per cent to close at 28k per share.

On the other hand, Royal Exchange Assurance led the losers’ chart in percentage terms, losing 9.88 per cent each, to close at 74k per share.

Neimeth International Pharma shed 8.57 per cent to close at N1.28 per share.

AXA Mansard Insurance dipped by 4.52 per cent to close at N1.90 per share.

Courtiville Business Solutions dropped by 2.17 per cent to close at 45k, UPDC lost by 2.17 per cent to close at 90k per share.

Analysis of the market activities showed that trade turnover closed higher with the value of transactions up by 120.07 per cent.

The total volume of shares exchange were 236.59 million shares worth N2.52 billion exchanged in 3,334 deals.