Stock market opens week with N804bn gain

The stock market started the week on a positive note on Monday, with investors portfolios increasing by N804 billion.

Buyers’ interest in stocks like Okomu Oil, Fortis Global Insurance, Fidson, NPF Microfinance Bank and 31 other advancing equities drove the market performance up.

Specifically, the market capitalisation, which opened at N125.164 trillion, increased by N804 billion or 0.64 per cent to close at N125.968 trillion.

Similarly, the All-Share Index rose by 1,273.79 points or 0.64 per cent to settle at 196,263.56 compared to 194,989.77 recorded on Friday.

This strengthened the Year-to-date (YTD) return further to 26.12 per cent.

The market breadth closed flat with 35 gainers and 35 losers.

Okomu Oil and Fortis Global Insurance led the gainers’ chart by 10 per cent each, settling at N1,605.60 and 66k respectively.

FG20203356 appreciated by 9.91 per cent, finishing at N119.12, Fidson grew by 9.90 per cent, closing at N95.50 and NPF Microfinance Bank increased by 9.89 per cent, ending the session at N6.89 per share.

Conversely, The Initiates led the losers’ chart by 10 per cent, closing at N17.55, Deap Capital Management followed by 9.97 per cent, finishing at N6.86 while Multiverse Mining and Livingtrust Mortgage Bank dropped by 9.92 per cent each, settling at N22 70 and N5.90 per share.

Also, Ellah Lakes shed by 9.77 per cent, closing at N11.55 per share.

A total of 1.3 billion shares valued at N31.5 billion were traded in 95,091 transactions, compared to 820.5 million shares worth N28.3 billion that was exchanged across 63,507 deals earlier on Friday.

This revealed a 57 per cent growth in volume, 11 per cent rise in value and 50 per cent increase in deals.

Japaul Gold recorded the highest volume with 473.98 million shares traded, accounting for 36.78 per cent of the day’s total volume.

Aradel recorded the highest value at N4.14 billion, accounting for 13.14 per cent of value traded for the day.