Investors gain N263bn as NGX opens week bullish

The equities market began the week on a bullish note as investors gained N263 billion on Monday.

The positive performancee was driven by increased investor interest in stocks like: PZ Cussons Nigeria, University Press, Ellah Lakes, Legend Internet, NCR Nigeria and others.

Specifically, the market capitalisation, which opened at N87.936 trillion, added 263 billion or 0.30 per cent to close at N88.199 trillion.

The All-Share Index also gained 0.30 per cent or 414.74 points, to settle at 139,394.75, against 138,980.01 recorded on Thursday.

Also, the market breadth closed positive with 41 gainers as against 18 losers.

PZ Cussons Nigeria and University Press led the gainers’ table by 10 per cent each, closing at N35.20, N5.50 per share respectively.

Ellah Lakes gained by 9.94 per cent, settling at N14.27 while Legend Internet rose by 9.90 per cent, finishing at N5.44 per share.

Similarly, NCR Nigeria grew by 9.84 per cent, ending the session at N13.95 per share.

Conversely, Nigerian Enamelware, Industrial and Medical Gases, Union Dicon Salt and Thomas Wyatt Nigeria led the losers’ table, declining by 10 per cent each, closing at N35.10, N33.30, N10.80 and N2.70 per share respectively.

Also, Academy Press fell by 9.95 per cent, settling at N8.60 per share.

A total of 947.9 million shares valued at N17.9 billion were exchanged across 36,036 transactions, as against 1.82 billion shares valued at N15.9 billion that was traded across 24,612 transactions earlier on Thursday.

Meanwhile, FCMB Group led the activity chart with 460.9 million shares valued at N4.74 billion.

Universal Insurance followed with 42.2 million shares worth N53.4 million while Royal Exchange sold 35.2 million shares valued at N72.5 million.

Zenith Bank transacted 26.7 million shares worth N1.73 billion and First Bank Holding Company traded 25.9 million shares valued at N791 million.