Investors Gain N4.17bn As Stock Rises Further

The Nigerian stock market saw a marginal increase of N4.17bn in its market capitalisation at the end of trading on Monday.

The All-Share Index of the Nigerian Exchange Limited rose by 0.12 per cent to 38,220.01 basis points while the market capitalisation increased slightly to N19.92tn.

The volume of shares traded rose significantly by 35.01 per cent as 282.62 million shares valued at 1.87bn were traded in 4,788 deals, compared to 209.19 million shares valued at 2.01bn in 3,240 deals the previous trading day.

The banking industry grew by 0.60 per cent as Fidelity Bank Plc ended up being the most traded stock by volume at 28.09 million units, while Zenith Bank Plc was the most traded stock by value at N330.43m.

The insurance sector and the oil and gas sector also saw positive growth at 1.5 per cent and 0.5 per cent respectively.

The consumer goods industry experienced the worst loss by sector at -0.4 per cent as Dangote Sugar Refinery Plc, Honeywell Flour Mills Plc and Flour Mills Nigeria Plc declined at the end of trading on the floor of the NGX.

Twenty-seven companies grew their share prices while 16 companies dropped in value as trading ended.

Cutix Plc led the gainers’ chart with a 10.00 per cent increase in its share price to close the day at N3.30 per share.

It was followed by NCR Nigeria Plc, whose share price rose by 9.69 per cent to close N2.49.

Other top gainers were Regency Alliance Insurance Company Plc, UAC Property Development Company Plc and Coronation Insurance Plc.

Red Star Express Plc, which led the losers’ list, saw a drop of 9.81 in its share price to close at N3.31.

Associated Bus Company Plc was second as it lost 8.11 per cent to end the day at N0.34 per share. The other top five losers were NPF Microfinance Bank Plc, Presco Plc and Chams Plc.

The Exchange Traded Fund and bond markets saw no gainers or losers during the period.