NGX positive aspects N542bn as Ecobank leads rally

The Nigerian Alternate recorded a constructive begin to buying and selling on Monday, gaining N542bn in market worth as buyers returned from the vacation break. The market capitalisation of the alternate now stands at N98.4tn, reflecting renewed investor confidence forward of the year-end.

A complete of 1,468,187,076 shares have been traded in 47,873 offers, akin to a turnover of N35.53bn. In contrast with the final buying and selling session on Wednesday, December 24, buying and selling quantity declined by 16 per cent, whereas turnover rose by 22 per cent and the variety of offers improved by 147 per cent.

In whole, 128 equities participated in buying and selling, with 41 gainers and 37 losers. Ecobank Transnational Inc. led the gainers with a ten per cent share worth enhance, closing at N41.80 per share. Austin Laz & Firm additionally rose by 10 per cent, whereas Eunisell Interlinked gained 9.95 per cent and Honeywell Flour Mill rose by 9.86 per cent. Guinness Nigeria added 9.82 per cent, and Morison Industries rose by 9.81 per cent.

On the shedding aspect, Worldwide Vitality Insurance coverage recorded the very best decline, falling 10 per cent to shut at N2.34 per share. Meyer Plc and E-Tranzact Worldwide each shed 9.92 per cent, whereas Livestock Feeds declined 9.60 per cent. Cileasing and FirstHoldCo additionally recorded losses of 8.06 per cent and 6.98 per cent, respectively.

When it comes to buying and selling quantity, Access Bank led with 594 million shares exchanged for a price of N12.36bn. Champion Breweries adopted with 122 million shares price N1.84bn, whereas FCMB Group traded 116 million shares valued at N1.26bn. Japaul Gold and Ventures recorded 66 million shares traded at N155.25m, and FirstHoldCo traded 51 million shares price N2.56bn.

Zenith Bank, Champion Breweries, FirstHoldCo, and WAPCO have been additionally among the many high worth shares, reflecting sturdy investor exercise in main market gamers.

Market analysts mentioned the efficiency mirrored a mix of year-end portfolio changes by institutional buyers and renewed curiosity in high-performing shares similar to Ecobank, Guinness, and Honeywell Flour Mill.

The market’s acquire of N542bn in a single session indicators optimism because the 12 months attracts to a detailed, with buyers keenly looking ahead to alternatives in blue-chip shares and high-volume counters.