Investors were upbeat about the local stock market on Monday, resulting in a 0.31 per cent growth recorded at the close of transactions.
It was the second straight win for the Nigerian Exchange (NGX) Limited yesterday after the poor run of results caused by profit-taking was halted last Friday.
Appetite for insurance equities remained strong during the trading day, leaving its index rising by 3.81 per cent, as the banking counter grew by 1.12 per cent, and the consumer goods space up by 0.29 per cent, with the industrial goods sector closing higher by 0.02 per cent, while the energy industry depreciated by 0.31 per cent.
At the close of business, the All-Share Index (ASI) increased by 435.63 points to 141,439.77 points from 141,004.14 points and the market capitalisation jumped by N284 billion to N89.493 trillion from N89.209 trillion.
Yesterday, Customs Street recorded a turnover of 591.3 million equities worth N11.7 billion in 33,342 deals compared with the 1.3 billion equities sold for N47.8 billion in 25,916 deals, reflecting a significant increase in the number of deals by 28.65 per cent, and a broad decline in the trading volume and value by 54.52 per cent and 75.52 per cent apiece.
The activity log was led by FCMB, which traded 105.1 million units worth N1.2 billion, Veritas Kapital transacted 59.6 million units valued at N128.8 million, Universal Insurance exchanged 34.4 million units for N45.2 million, AIICO Insurance sold 26.2 million units valued at N111.9 million, and GTCO traded 25.0 million units worth N2.4 billion.
Julius Berger was the higher price gainer on Monday after it chalked up 9.93 per cent to sell for N146.10, Cutix gained 9.86 per cent to sell for N3.90, Regency Alliance rose by 9.70 per cent to N1.47, Veritas Kapital expanded by 9.60 per cent to N2.17, and McNichols grew by 9.37 per cent to N3.50.
On the flip side, University Press declined by 9.92 per cent to N5.54, Cadbury Nigeria tumbled by 9.61 per cent to N57.85, Abbey Mortgage Bank lost 8.39 per cent to close at N6.55, DAAR Communications depreciated by 7.44 per cent to N1.12, and Austin Laz shed 6.55 per cent to end at N2.71.
On the first trading session of the week, 40 stocks appreciated and 17 stocks depreciated, indicating a positive market breadth index and strong investor sentiment.