Business and Economy

Nigerian stock market NGX All-Share Index gain 0.15% on Monday

Opening the week, Nigerian equities extended its winning streak as the benchmark index closed 0.15% stronger to settle at 44,461.43 points. Increased demand for MTNN (+1.28%) offset losses in Tier-1 banking names, ZENITHBANK (-0.25%), GTCO (-0.54%), FBNH (-1.03%) and  ACCESSCORP (-0.62%) to keep the market in the green. Consequently, the year-to-date (YTD) return rose to 4.09%, while market capitalization gained ₦36.27bn to close at ₦24.22trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 15.08%. A total of 72.33m shares valued at ₦2.17bn were exchanged in 2,887 deals. TRANSCORP (-3.67%) led the volume chart with 11.35m units traded, while AIRTELAFRI (+0.00%) led the value chart in deals worth ₦1.49bn.

Market breadth closed negative at a 2.25-to-1 ratio with declining issues outnumbering advancing ones. UNILEVER (-10.00%) led seventeen (17) others on the laggard’s table, while REDSTAREX (+8.22%) topped seven (7) others on the gainer’s log.

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