Stock market gains N0.33%

The Nigerian stock market opened the week on a positive note on Monday, as investors’ wealth increased by 0.33 per cent, translating to a gain of N515 billion.

Renewed investors interest in stocks like: International Energy Insurance, The Initiates, ABC Transport, Abbey Mortgage Bank, UPDCredit led to the positive performance.

Market capitalisation rose by N515 billion, increasing from N155.593 trillion to N156.108 trillion.

Similarly, the All-Share Index gained 802.94 points, or 0.33 per cent, advancing from 242,593.31 to 243,396.25.

The market Year-to-Date return grew to 56.41 per cent.

Market breadth also closed with 32 gainers and 30 losers.

International Energy Insurance led the gainers’ chart by 9.92 per cent, settling at N7.98, The Initiates followed by 9.91 per cent, closing at N32.15 while ABC Transport gained by 9.68 per cent, finishing at N6.80 per share.

Abbey Mortgage Bank advanced by 9.63 per cent, ending the session at N10.25 and UPDCredit increased by 8.91 per cent, finishing at N11 per share.

On the flip side, Fidson Healthcare topped the losers’ chart by 10 per cent, closing at N122.85, Academy Press trailed by 9.70 per cent, ending the session at N7.45 and RT Briscoe shed by 9.43 per cent, settling at N13.45 per share.

Also, Sunu Assurances dipped by 9.38 per cent, closing at N4.06 while Learn Africa fell by 8.70 per cent, finishing at N10.50 per share.

Meanwhile, a total of 717.16 million shares worth N56.66 billion were traded across 73,321 transactions, compared to 608.49 million shares valued at N32.03 billion that was exchanged in 53,826 deals earlier on Friday.

This reflected an overall improvement in market activity, with gains recorded in trading volume, value and the number of deals executed.

FCMB emerged as the most actively traded stock by volume, with 157.80 million shares exchanged, representing 21.15 per cent of the day’s total volume.

Dangote Cement led in value traded, recording transactions worth N29.77 billion, which accounted for 51.28 per cent of the total value of trades executed during the session.

NAN