Equities trading at the Nigerian Exchange Limited (NGX) opened the week’s trading session with bullish momentum, as the All-Share Index (ASI) climbed by 0.14 per cent to close at 98,386.60 basis points.
The overall positive sentiment was spurred by gains in Fidelity Bank, First Bank of Nigeria Holdings, and Flour Mills of Nigeria as the share prices of these companies appreciated by 9.9 per cent, 2.6 per cent, and 9.8 per cent.
This upward movement was mirrored in the market capitalisation, which also rose by 0.14 per cent to N56.54 trillion, adding N79.7 billion to investors’ portfolios.
Consequently, the Month-to-Date and Year-to-Date returns settled higher at +1.9 per cent and +31.6 per cent, respectively.
As measured by market breadth, market sentiment was positive, as 32 tickers gained relative to 20 losers.
On the performance board, First City Monument Bank, Mc Nicholas, Fidelity Bank, Tantalizet, and Flour Mills of Nigeria led the gainers, having appreciated in share value by 10.0 per cent, 10.0 percent, 9.93 per cent, 9.84 per cent, and 9.81 per cent, respectively, while the top losers were Berger Paints, Daar Communication, Deap Capital Management and Trust, Secure Electronics Technology and Honeywell Flour Mills.
Sectoral performance was however mixed: while the insurance, oil and gas, and industrial sectors experienced declines of 0.37 percent, 0.09 percent, and 0.07 percent, respectively, the banking and consumer goods sectors posted gains of 0.95 percent and 0.24 per cent.
Trading activity on Monday was largely positive, with the number of deals and volume rising by 23.06 percent and 46.23 percent, reaching 810.43 million units across 10,669 transactions.
However, the traded value fell by 18.06 percent, closing at N8.29 billion.
Mecure Industries emerged as the most traded stock, with 400.1 million units worth N2.78 billion.
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