The All-Share Index (ASI) and the market capitalisation of the Nigerian Exchange (NGX) Limited moved in different directions on Monday.
Data showed that while the benchmark index depreciated by 0.04 per cent, the market capitalisation appreciated by 0.73 per cent as a result of the listing of 9.67 billion ordinary shares of Zenith Bank on the NGX during the session.
Business Post reports that the All-Share Index (ASI) was down by 41.70 points to 105,891.33 points from 105,933.03 points, while the market capitalisation was up by N477 billion to N66.069 trillion from N65.592 trillion.
It was observed that the banking sector came under selling pressure yesterday, causing its index to close lower by 0.95 per cent.
However, the others ended in the green territory on Monday due to the sustained buying interest, with the insurance space chalking up 1.53 per cent.
Further, the consumer goods industry improved by 0.10 per cent, the energy counter jumped by 0.09 per cent, and the industrial goods index appreciated by 0.08 per cent.
Investor sentiment remained strong during the trading day after Customs Street finished with 44 price gainers and 25 price losers, implying a positive market breadth index.
Stanbic IBTC gained 10.00 per cent to settle at N68.20, Smart Products Nigeria surged by 10.00 per cent to 22 Kobo, Beta Glass also grew by 10.00 per cent to N95.15, Honeywell Flour advanced by 9.98 per cent to N10.47, and Eterna soared by 9.96 per cent to N40.30.
On the flip side, International Energy Insurance shed 10.00 per cent to quote at N2.25, RT Briscoe crumbled by 9.63 per cent to N2.44, Julius Berger slipped by 8.44 per cent to N128.00, Deap Capital weakened by 8.26 per cent to N1.00, and DAAR Communications cracked by 7.41 per cent to 75 Kobo.
A total of 567.3 million stocks worth N10.4 million were transacted in 17,843 deals on the first vtrading day of the week versus the 468.2 million stocks valued at N13.2 billion traded in 12,612 deals last Friday.
This showed that the value of transactions declined by 21.21 per cent and a rise in the trading volume and number of deals by 21.17 per cent and 41.48 per cent, respectively.
Secure Electronic Technology sold 84.1 million shares worth N55.2 million to lead the activity chart on Monday, followed by Fidelity Bank with 67.8 million equities sold for N1.4 billion. Access Holdings exchanged 40.2 million stocks valued at N1.1 billion, UPDC traded 36.7 million equities worth N103.8 million, and AIICO Insurance transacted 27.2 million shares valued at N47.5 million.