Stocks market extends gains, up by N113.90bn

Stocks market extends gains, up by N113.90bn

The equities segment of the Nigerian Exchange (NGX) on Monday opened the week strong as the market capitalization gained N113.90billion to close at N24.35trillion.

Specifically, the benchmark index gained 0.47 per cent to close at 44,701.84 points, the highest point since 25 October.

The analysis of the market’s performance, shown that it was primarily driven by demand in ZENITHBANK (+1.64%), GTCO (+0.26%) and FBNH (+1.82%).

Consequently, the year-to-date (YTD) return rose to 4.65 per cent, while the market capitalization gained N113.90billion to close at N24.35trillion.Figures of the closing market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 57.79 per cent.

A total of 159.56million shares valued at N1.95billion were exchanged in 3,607 deals. TRANSCORP (+1.80%) led the volume chart with 35.24million units traded while SEPLAT (+0.00%) led the value chart in deals worth N478.43million.

Market breadth closed positive at a 4.33-to-1 ratio with advancing issues outnumbering declining ones. NB (+9.94%) topped twenty-five (25) others on the gainer’s table, while JAPAULGOLD (-7.14%) led five (5) others on the laggard’s log.