Opening the week, the Nigerian equities extended gains from the previous week as the benchmark index closed 0.16 per cent stronger to settle at 49,396.04 basis points.
Buying rally in index heavyweight BUA Foods, alongside Tier-1 banks, Guaranty Trust Bank, Access Corporation, United Bank for Africa kept the market in the green as the share prices of the large-cap companies appreciated by 2.52 per cent, 3.35 per cent, 1.18 per cent and 0.68 per cent.
Consequently, the Month-to-Date and Year-to-Date returns settled at +3.7 per cent and +15.7 per cent, respectively.
Equities investors, therefore, earned N43.44 billion on Monday as the market capitalization settled higher at N26.90 trillion.
As measured by market breadth, market sentiment was positive, as 13 tickers gained relative to 10 losers. Thomasway and International Breweries topped the gainers’ list as their respective share prices appreciated by 8.8 per cent and 5.8 per cent, while PZ and CHAMS recorded the highest losses of the day after their share prices dipped by 7.3 per cent and 4.4 per cent.
Performance across sub-sector gauges was a mixed bag as the NGX Banking Index and the NGX Consumer Goods Index rose by 0.12 per cent and 1.00 per cent, respectively, while the NGX Insurance Index and the NGX Oil/Gas index declined respectively by 0.05 per cent and 0.01 per cent. The NGX Industrial Index remained unchanged from the previous day.
Analysis of market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 36.57 per cent. A total of 69.14 million shares valued at N1.27 billion were exchanged in 3,174 deals.
Guaranty Trust Holding Company led the volume and value charts with 16.61 million units traded in deals worth N352.21 million.
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