The Nigerian equity market opened the week on Monday with a gain of 0.58 per cent.
Consequently, investors gained N324 billion or 0.58 per cent, as the market capitalisation, which opened at N56.128 trillion, closed at N56.452 trillion.
The All-Share Index also closed 0.58 per cent or 573 points stronger at 99,793.71 compared to 99,221.14 recorded on Friday. As a result, the Year-To-Date (YTD) return rose to 33.46 per cent.
The market’s positive performance was primarily driven by gains in Seplat, Guaranty Trust Holding Company (GTCO), Zenith Bank, United Bank For Africa (UBA), Transcorp Hotel, and Nigerian Breweries, among other advanced equities.
Market breadth closed positive with 30 gainers and 10 losers on the floor of the Exchange.
On the gainers’ chart, Flour Mill led by 10 per cent to close at N41.80 per share. Total Energies followed closely by 9.98 per cent to close at N353.60 per share. Access Corporation gained 9.86 per cent to close at N18.95, Chams rose by 9.74 per cent to close at N1.69, Veritas Kapital Assurance advanced by 9.52 per cent to close at 69k per share.
On the other side, eTranzact led the losers’ chart, closing at N4.55, while Daar Communications trailed with a 9.52 per cent decrease to close at 57k per share. Champion lost 6.67 per cent to close at N2.80, Unity Bank shed 6.67 per cent to close at N1.12, and Wapic Insurance went down by 2.86 per cent to close at 68k per share.
Market analysis revealed that trade turnover settled higher relative to the previous session, with the value of transactions up by 83.55 per cent. A total of 963.54 million shares valued at N13.50 billion were exchanged in 8,657 deals, compared to 388.02 million shares valued at N7.35 billion exchanged in 7,106 deals.
Meanwhile, Fidelity Bank led the activity chart in volume and value with 605.26 million shares worth N6.03 billion, Access Corporation followed with 93.07 million shares valued at N1.74 billion. UBA transacted 58.73 million shares worth N1.26 billion, Nigerian Breweries traded 45.26 million shares valued at N1.27 billion, and Zenith Bank sold 16.08 million shares worth N539.55 million.
