Investors Gain N38bn as NGX All-Share Index Climbs 0.06%

It was a tough battle between the bulls and the bears during the trading day, but the former won after the insurance and the banking sectors closed higher by 4.12 per cent and 0.74 per cent, respectively.

Business Post reports that the consumer goods, the industrial goods, and the energy counters went down by 0.35 per cent, 0.10 per cent and 0.07 per cent, respectively, as a result of profit-taking yesterday.

However, they could not affect the outcome of Customs Street when trading activities ended, leaving the All-Share Index (ASI) growing by 61.91 points to 103,648.24 points from 103,586.33 points, and the market capitalisation increased by N38 billion to N63.204 trillion from N63.166 trillion.

Investor sentiment remained strong on Monday after a positive market breadth index buoyed by 48 price gainers and 19 price losers.

Wema Bank and DAAR Communications chalked up 10.00 per cent each to sell for N11.00 and 77 Kobo, respectively, as Honeywell Flour gained 9.99 per cent to finish at N8.37, Coronation Insurance expanded by 9.96 per cent to N2.98, and Lasaco Assurance appreciated by 9.95 per cent to N4.09.

On the flip side, Cutix shed 5.45 per cent to quote at N2.60, Caverton lost 5.36 per cent to trade at N2.65, Jaiz Bank declined by 5.23 per cent to N3.08, Champion Breweries plunged by 4.53 per cent to N4.00, and Ikeja Hotel slipped by 4.26 per cent to N12.35.

Yesterday, the trading volume, value, and number of deals went up by 20.68 per cent, 62.20 per cent and 21.42 per cent, respectively.

A total of 856.0 million stocks valued at N13.3 billion were traded during the session in 16,505 deals versus the 709.3 million stocks worth N8.2 billion transacted in 13,593 deals last Friday.

On top of the activity chart was Chams, with 80.8 million equities sold for N191.5 million, Veritas Kapital traded 60.5 million shares worth N105.7 million, Access Holdings exchanged 54.3 million stocks valued at N1.4 billion, GTCO transacted 54.0 million shares worth N3.1 billion, and Prestige Assurance sold 48.9 million equities valued at N76.0 million.