4 hours ago
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The Nigerian stock market on Monday began the week with a N465 billion loss to investors’ portfolios.
On Monday, the Nigerian Exchange Limited market capitalisation increased from N93.295 trillion at the opening to N93.760 trillion at the close of trading.
Also, NGX’s trading data showed that the All-Share Index (ASI) advanced by 0.50 per cent, or 729.19 points, closing at 147,717.23 compared to 146,988.04 recorded on Friday.
Reason for Monday’s gain
According to market data analysis, trading activity was driven by increased demand for equities such as Sovereign Trust Insurance, Regency Alliance Insurance, Transcorp Power, Consolidated Hallmark Holdings, Halldane McCall and 20 other stocks.
Meanwhile, the market breadth closed flat with 25 gainers and 25 losers.
Sovereign Trust Insurance led the gainers’ chart, while Tripple Gee led the losers’ chart.
Further assessment of the market activity showed an overall improvement in the market deals, volume and value, as 624.61 million shares worth N13.5 billion were exchanged across 31,563 transactions compared to 386.6 million shares worth N11.26 billion traded across 21,842 deals earlier on Friday.
Transactions in the shares of Consolidated Hallmark topped the activity chart in volume with 210.5 million shares valued at N909.6 million, and Fidelity Bank followed with 47.5 million shares worth N951.82 million.
Nigerian stock market begins week with N465bn gain to investors
