Stocks Market Opens Trading Week on Bullish Note, Gains N535.74bn

The Nigerian Exchange Limited (NGX) started this week’s trading activities on a positive note, gaining N535.74billion to continue from the N121.51billion Week on Week (WoW) gains recorded last week.

The Nigerian equities market All-Share Index (ASI), also, ended 1.45 per cent stronger to close at 68,111.71 points.

Data from the NGX indicated that demand for industrial heavyweight, DANGCEM (+5.77%) alongside ZENITHBANK (+0.60%) and STANBIC (+9.23%) bolstered the market’s strong performance, outweighing losses in MTNN (-0.20%), TRANSCORP (-0.32%) and FIDELITYBK (-0.61), keeping the market in the green.

As a result, the year-to-date (YTD) return rose to 32.90 per cent, with the market capitalisation increasing by N535.74billion to close at N37.42trillion

Analysis of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 59.47 per cent.

A total of 430.39m shares valued at N8.26billion were exchanged in 7,656 deals. UBA (+4.47%) led the volume chart with 51.26million units traded, while GEREGU (+4.08%) led the value chart in deals worth N1.95billion.

Market breadth closed positive at a 3.56-to-1 ratio with advancing issues outnumbering declining ones. UACN (+9.54%) led thirty-one (31) others on the leader’s log while JAIZBANK (-5.95%) topped eight (8) others on the laggard’s table.