A 0.23 per cent growth was achieved at the Nigerian Exchange (NGX) Limited on Monday on the back of a renewed bargain-hunting by investors.
It was the first trading session of the week and in December 2024 on the floor of the local stock exchange.
Business Post reports that all the major sectors of the market ended in green yesterday, with the insurance index growing by 2.14 per cent.
Further, the industrial goods space appreciated by 0.89 per cent, the consumer goods sector improved by 0.67 per cent, the energy counter expanded by 0.37 per cent, and the banking industry gained 0.08 per cent.
As a result, the All-Share Index (ASI) went up by 226.99 points to 97,733.86 points from 97,506.87 points and the market capitalisation chalked up N138 billion to close at N59.245 trillion compared with last Friday’s N59.107 trillion.
The renewed confidence helped investor sentiment, which was strong during the session after Customs Street ended with 36 appreciating shares and 25 depreciating shares, implying a positive market breadth index.
The trio of Lafarge Africa, Abbey Mortgage Bank and Africa Prudential gained 10.00 per cent each to trade at N63.80, N2.64, and N9.90, respectively, as VFD Group appreciated by 9.88 per cent to N44.50, and Sovereign Trust Insurance jumped by 9.59 per cent to 80 Kobo.
On the flip side, eTranzact depreciated by 10.00 per cent to N6.75, NCR Nigeria weakened by 9.92 per cent to N4.27, FTN Cocoa slumped by 8.29 per cent to N1.77, Honeywell Flour moderated by 5.92 per cent to N4.45, and NPF Microfinance Bank shed 4.46 per cent to N1.50.
On Monday, investors traded 446.2 million stocks valued at N10.0 billion in 9,200 deals versus the 515.5 million stocks worth N15.1 billion traded in 7,554 deals in the previous trading day, representing a leap in the number of deals by 21.79 per cent, and a depletion in the trading volume and value by 13.44 per cent and 33.78 per cent, respectively.
The most active stock for the day was Japaul with the sale of 72.0 million units worth N161.8 million, UBA transacted 67.9 million units for N2.2 billion, Access Holdings exchanged 53.6 million units valued at N1.3 billion, Lafarge Africa sold 21.3 million units worth N1.4 billion, and GTCO traded 20.9 million units valued at N1.1 billion.