NGX Opens Trading On Positive Note, Gains N9.07bn

Samuel Mobolaji

The equities market of the Nigerian Exchange Limited (NGX) on Monday opened first trading session of the week on a positive note, as the market capitalization rose marginally by N9.07billion to close at N28.44trillion as against N28.431 trillion recorded last Friday.

The Lagos bourse ended mixed albeit with a bullish tilt as the benchmark index closed 0.03 per cent higher to settle at 52,231.29 points.

Gains in ZENITHBANK (+0.62%), ACCESSCORP (+1.01%) and WAPCO (+0.41%) offset declines in GTCO (-0.62%), STANBIC (-0.27%), and FBNH (-0.41%).

As a result, the year-to-date (YTD) return rose at 1.91 per cent.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.01 per cent.

A total of 626.39m shares valued at N5.60billion were exchanged in 6,033 deals. TRANSCORP (+9.65%) led volume chart with 190.85m units traded, while ACCESSCORP (+1.01%) led the value chart in deals worth N1.25billion.

Market breadth closed positive at a 1.33-to-1 ratio with advancing issues outnumbering declining ones. OANDO (+9.91%) led nineteen (19) others on the leader’s log while NEM (-9.45%) topped fourteen (14) others on the laggard’s table.