Fifty-three stocks ended on the gainers’ chart of the Nigerian Exchange (NGX) Limited on Monday, led by the quartet of Tripple Gee, Ellah Lakes, UPDC REIT, and Cadbury Nigeria.
The four equities appreciated by 10.00 per cent each to quote at N2.97, N8.91, N7.15, and N53.35, respectively, while Red Star Express gained 9.92 per cent to trade at N9.20.
However, Sunu Assurances topped the losers’ table of 23 stocks after it depreciated by 10.00 per cent to finish at N4.50, as RT Briscoe shed 9.59 per cent to N3.30, Prestige Assurance crumbled by 9.09 per cent to N1.20, UPDC deflated by 8.23 per cent to N4.35, and Berger Paints lost 7.58 per cent to sell for N30.50.
The analysis showed that investor sentiment was bullish because of the positive market breadth index triggered by renewed bargain-hunting by the market participants.
Business Post reports that the industrial goods and the commodity sectors closed flat yesterday, but the banking sector gained 0.93 per cent, the consumer goods index appreciated by 0.75 per cent, the insurance space improved by 0.39 per cent, and the energy counter gained 0.01 per cent.
At the close of business, the All-Share Index (ASI) rose by 305.67 points to 121,295.33 points from 120,989.66 points and the market capitalisation N193 billion to N76.532 trillion from N76.339 trillion.
A total of 824.1 million shares valued at N14.4 billion exchanged hands in 24,042 deals during the session compared with the 923.9 million shares worth N11.0 billion traded in 25,680 deals last Friday, showing a rise in the trading value by 30.91 per cent, and a decline in the trading volume and number of deals by 10.80 per cent and 6.38 per cent apiece.
Universal Insurance was the busiest stock on the first trading day of the week with 71.9 million units worth N48.9 million, FCMB transacted 61.4 million units valued at N564.8 million, Japaul transacted 53.3 million units for N136.1 million, Coronation Insurance sold 44.5 million units valued at N94.6 million, and Access Holdings traded 42.0 million units valued at N942.8 million.