Nigerian Exchange Rises 0.79% as Aradel Leads Gainers’ Chart

During the first trading session of the week, the All-Share Index (ASI) went up by 856.30 points to 109,884.92 points from the 109,028.62 points it closed last Friday, and the market capitalisation expanded by N540 billion to N69.292 trillion from N68.752 trillion.

Data obtained from the bourse showed that the industrial goods sector increased by 2.16 per cent, the commodity space grew by 0.66 per cent, and the banking index gained 0.29 per cent.

On the flip side, the insurance industry depreciated by 1.06 per cent, the consumer goods counter went down by 0.75 per cent, and the energy sector tumbled by 0.09 per cent.

During the trading day, a total of 33 stocks ended on the gainers’ chart and 31 stocks finished on the losers’ log, representing a positive market breadth index and strong investor sentiment.

Aradel Holdings gained 9.98 per cent to settle at N505.90, University Press improved by 9.86 per cent to N4.79, ABC Transport grew by 8.43 per cent to N2.70, Linkage Assurance jumped by 8.16 per cent to N1.59, and C&I Leasing advanced by 7.32 per cent to N4.40.

Conversely, Tripple Gee lost 10.00 per cent to quote at N2.07, MRS Oil depreciated by 9.97 per cent to N141.80, Chellarams crashed by 9.96 per cent to N10.58, UH REIT fell by 9.95 per cent to N45.70, and Industrial and Medical Gases shrank by 9.91 per cent to N35.90.

Yesterday, investors traded 414.5 million shares valued at N11.1 billion in 19,775 deals compared with the 637.5 million shares worth N18.1 billion transacted in 15,927 deals in the preceding session, implying a growth in the number of deals by 24.16 per cent, and a decline in the trading volume and value by 34.98 per cent, and 38.67 per cent, respectively.

Fidelity Bank led the activity with 46.8 million equities worth N855.4 million, Custodian Investment traded 37.2 million shares for N736.2 million, Access Holdings transacted 35.9 million stocks valued at N783.7 million, GTCO exchanged 25.0 million equities for N1.7 billion, and Zenith Bank sold 17.9 million shares worth N862.2 million.