Business and Economy

Nigeria Stock Market’s NGX All-Share Index gains 0.47% on Monday

Nigerian equities opened the week strong today as the benchmark index gained 0.47% to close at 44,701.84 points, the highest point since 25 October. The market’s performance was primarily driven by demand in ZENITHBANK (+1.64%), GTCO (+0.26%) and FBNH (+1.82%). Consequently, the year-to-date (YTD) return rose to 4.65%, while the market capitalization gained ₦113.90bn to close at ₦24.35trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 57.79%. A total of 159.56m shares valued at ₦1.95bn were exchanged in 3,607 deals. TRANSCORP (+1.80%) led the volume chart with 35.24m units traded while SEPLAT (+0.00%) led the value chart in deals worth ₦478.43m.

Market breadth closed positive at a 4.33-to-1 ratio with advancing issues outnumbering declining ones. NB (+9.94%) topped twenty-five (25) others on the gainer’s table, while JAPAULGOLD (-7.14%) led five (5) others on the laggard’s log.

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