Trading opened on the floor of the Nigerian Exchange (NGX) Ltd., on Monday, on a positive note due to rally in consumer goods as well as oil and gas stocks.
The News Agency of Nigeria (NAN) reports that the market capitalisation gained N522 billion to close at N27,981 trillion from N27,459 trillion achieved on Friday.
Similarly, the All-Share Index gained 967.45 points or 1.90 per cent to close at 51,902.48 compared with 50,935.03 posted on Friday.
The stocks responsible for the gains include: Nigerian Breweries, MTN Nigeria, Cadbury, Royal Exchange Assurance, Zenith Bank and First Bank of Nigeria Holdings (FBNH).
Analysts at Vetiva Research and Brokage said, “As expected, the market continued its bullish run despite some instances of profit-taking, especially on banking stocks as well as Guiness.
“In tomorrow’s session, we foresee more positive trading activity amid soaring investor appetite for equity investments, while profit taking is likely to remain a possibility on some of today’s gainers, albeit in a limited capacity.”
Overall, the market closed with 35 gainers against 20 laggards.
Nigerian Breweries led the gainers’ chart in percentage terms by 10 per cent to close at N77 per share.
Cadbury followed with 99.6 per cent to close at N14.90, while Royal Exchange Assurance was up by 9.90 per cent to close at N1.11 per share.
Champion rose by 9.88 per cent to close at N3.67, while International Breweries gained 9.63 per cent to close at N7.40 per share.
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On the other hand, Transcorp Hotels led the losers’ chart in percentage terms by 10 per cent to close at N4.05 per share.
Guiness followed with 9.59 per cent to close at N99.45, while Multiverse Mining and Exploration lost 9.09 per cent to close at 20k per share.
WAPIC declined 6.67 per cent to close at N42, while SunuAssurance shed 6.06 per cent to close at 31k per share.
The total volume traded increased by 27.60 per cent to 377.56 million units valued at N5.55 billion exchanged in 7,684 deals.
This was in contrast with 466.28 million shares worth N5.31billion traded in 7,442 deals on Friday.
Transactions in the shares of Transcorp topped the activity chart with 37.76 million shares valued at N45 million.
Guaranty Trust Holding Company (GTco) followed with 24.76 million shares worth N580.63 million, while Zenith Bank traded 21.2 million shares valued at N521.67 million.
AccessCorp traded 19.35 million shares worth N185.45 million, while FBHN transacted 15.85 million shares worth N190.26 million.
(NAN)
