By Philemon Adedeji
Nigerian equities opened the week on a positive note, extending gains from the previous session as the All-Share Index, (ASI) closed at 17.15 basis points representing 0.04 per cent stronger to close at 48,899.08 points from 48,881.93 it closed for last trading day.
The market’s performance was driven by gains in Zenith Bank (+1.58 per cent), WAPCO (+0.69 per cent) and FBNH (+1.85 per cent) outweighing selloffs in STANBIC (-1.80 per cent), Acesscorp and UBA (-1.35 per cent). Consequently, the year-to-date (YTD) return rose to 14.47 per cent, while the market capitalization gained N10 billion to close at N26.634 trillion from N26.624 trillion it closed week on Friday.
Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 120.07 per cent.
The trade volume increased by 134.7 per cent to close at 236.59 million units valued at N2.52 billion were exchanged in 3,334 deals. Acesscorp led the volume chart and value chart with 120.98 million units traded in deals worth N1.03 billion.
Sectoral performance was broadly positive as ten (10) NGX sector index closed northward, four (4) closed southward and four (4) closed flat. The NGX Banking index advanced by 0.47 per cent to top the gainer’s chart while the NGX Insurance index declined by 0.61 per cent.
The market sentiments as measured by market breadth closed negative as NEIMETH pharmaceutical Industry led nine others on the laggard’s table, while Learnafrica topped seven others on the gainer’s log.
Learnafrica led the leaders table at the close of trade on Monday with 9.70 per cent to close at N1.81 per share followed by Jaizbank which appreciated by 9.20 per cent to close at N0.95 per share while SCOA which recorded as the last third gainer grew significantly by 8.86 per cent to close at N0.86 per share.
Sunu Assurance rose by 7.14 per cent to close at N0.30 per share and Japaulgold which recorded as the last fifth gainer 3.70 per cent to close at N0.28 per share.
However, Royalex Exchange led the losers chart with 9.88 per cent to close at N0.73 per share followed by Neimeth Pharmaceutical Industry which dipped by 8.57 per cent to close at N1.28 per share and Mansard Insurance which recorded as the last third loser lost 4.52 per cent to close at N1.90 per share.
While Courtville Business Solution which recorded as the last fourth loser went down by 2.17 per cent to close at N0.45 per share and UPDC which recorded as the last fifth loser depreciated by 2.17 per cent to lose at N0.90 per share.