The performance indices of the Nigerian Exchange (NGX) Limited rallied by 2.15 per cent on Monday, as investors showed confidence in the market.
During the session, First Holdco gained 10.00 per cent to trade at N60.50, Wema Bank also appreciated by 10.00 per cent to N29.70, Aradel Holdings grew by 9.99 per cent to N1,403.30, NGX Group increased by 9.96 per cent to N129.75, and Veritas Kapital rose by 9.92 per cent to N1.44.
Conversely, NAHCO lost 10.00 per cent to quote at N133.65, Vitafoam Nigeria crashed by 10.00 per cent to N170.10, CAP declined by 9.99 per cent to N1.44, May and Baker depreciated by 5.25 per cent to N37.90, and Chams tumbled by 3.06 per cent to N28.12 per cent.
Business Post reports that 58 shares ended on the gainers’ chart and 14 shares finished on the losers’ table, indicating a positive market breadth index and bullish investor sentiment.
The industrial goods space chalked up 4.89 per cent, the energy index expanded by 4.22 per cent, the banking counter improved by 3.05 per cent, the insurance segment advanced by 2.70 per cent, and the consumer goods sector jumped by 0.57 per cent.
At the close of business, the All-Share Index (ASI) went up by 4937.89 points to 234,178.23 points from 229,240.34 points, and the market capitalisation moved higher by N3.168 trillion to N150.271 trillion from N147.103 trillion.
A total of 538.6 million stocks worth N38.7 billion exchanged hands in 64,065 deals during the session, in contrast to the 414.7 million stocks valued at N25.1 billion traded in 47,106 deals last Friday. This implied that the trading volume, value, and number of deals grew by 29.90 per cent, 54.18 per cent, and 36.00 per cent, respectively.
Zenith Bank was the most active stock on Monday with a turnover of 89.5 million units worth N9.8 billion, GTCO transacted 42.5 million units for N5.4 billion, Fidelity Bank exchanged 35.8 million units valued at N636.4 million, Access Holdings sold 31.0 million units worth N721.0 million, and Jaiz Bank traded 16.6 million units for N133.4 million.