By Asishana John
Investors on the Nigerian Exchange Limited gained N14.44bn at the end of trading as the insurance index saw the most gains among sectoral indices.
The NGX All-Share index rose by 0.05 per cent from 40,221.17 basis points to 40,243.05bps while the market capitalisation of stocks increased by 0.07 per cent to close at N20.97tn from N20.96tn. Trading volume plunged by 80.67 per cent while the value of shares traded crashed by 74.93 per cent signifying bearish market sentiment by investor activity.
The volume of shares traded on the floor of the NGX on Monday was 202.36 million shares valued at N1.86bn in 4,066 deals compared to 1.05 billion shares worth N7.42bn in 3,752 deals recorded on the previous trading day.
The NGX Industrial and Oil & Gas indices declined by 0.02 per cent and 0.38 per cent respectively while the NGX Insurance, Consumer Goods and Banking indices increased by 1.53 per cent, 0.05 per cent and 0.01 per cent respectively.
Measured by market breadth, market sentiment was positive as 23 equities gained while 15 tickers lost at the end of trading. AXA Mansard Insurance Plc led the gainers with a share price increase of 9.87 per cent, closing at N2.56 on Monday. Pharma-Deko Plc followed closely with a 9.79 per cent gain, ending the day at N2.58 per share.
Other major gainers on Monday were University Press Plc (+9.76 per cent), Consolidated Hallmark Insurance Plc (+8.77 per cent), and Courtville Business Solutions Plc (+8.57 per cent).
Atop the losers’ chart was Morison Healthcare Industries Plc with a 10.00 per cent depreciation to end at N1.89 per share. Coming next was Northern Nigeria Flour Mills Plc with a share price decline of 9.94 per cent to N7.70 at the end of trading on the floor of the NGX on Monday.
Veritas Kapital Assurance Plc, Cornerstone Insurance Plc and Jaiz Bank Plc also saw losses of 8.70 per cent, 8.62 per cent and 5.93 per cent respectively.
Analysts at Atlas Portfolios Limited said, “Investors at the Lagos Custom Street sustained last week positive sentiment with a marginal growth of 0.05 per cent, resuming the new quarter on a positive note. This follows the price appreciation in small and medium capitalised stocks.”