The upward movement seen recently at the Nigerian Exchange (NGX) Limited continued on Monday after it further grew by 0.34 per cent at the close of business.
Sustained bargain-hunting in some banking and consumer goods stocks kept the bulls intact on Customs Street, giving no room for the bears.
Data showed that investor sentiment was strong after the bourse finished with 30 advancing equities and 25 declining equities, indicating a positive market breadth index.
The gainers’ chart was led by NGX Group, which appreciated by 10.00 per cent to trade at N153.45. Trans-Nationwide Express expanded by 9.81 per cent to N4.14, McNichols chalked up 9.74 per cent to finish at N7.10, VFD Group soared by 9.71 per cent to N11.30, and Chams gained 8.96 per cent to close at N3.65.
Conversely, the losers’ table was topped by Berger Paints, which fell by 9.95 per cent to N68.35. Academy Press lost 9.71 per cent to settle at N7.90, Caverton depreciated by 5.98 per cent to N5.50, Honeywell Flour crumbled by 4.92 per cent to N20.30, and CAP shed 3.81 per cent to quote at N96.00.
Access Holdings still led the activity chart during the session after it transacted 54.9 million shares valued at N1.4 billion, GTCO traded 43.5 million stocks worth N5.8 billion, Zenith Bank exchanged 42.2 million equities for N4.8 billion, Japaul sold 19.3 million shares valued at N57.5 million, and Chams posted a turnover of 19.1 million stocks worth N65.9 million.
When the closing gong was struck to signify end to trading for the session, market participants had traded 470.0 million equities for N32.5 billion in 60,793 deals compared with the 548.6 million equities valued at N31.5 billion executed in 48,538 deals in the previous trading day, a decline in the trading volume by 14.33 per cent, and a rise in the trading value and number of deals by 3.18 per cent and 25.25 per cent, respectively.
Business Post reports that the All-Share Index (ASI) was up by 688.44 points yesterday to 204,458.86 points from 203,770.42 points last Friday, and the market capitalisation surged by N443 billion to N131.609 trillion from N131.166 trillion.