Large-cap Stocks Trigger N35bn Market Gain

Stock trading at the Nigerian Exchange Limited resumed the week on a positive note as the market gained N34.97bn on Monday amid buying interest in large-cap equities.

The NGX All-Share Index rose by 0.16 per cent to 43,266.27 basis points at the end of trading on Monday from 43,199.27bps on Friday while the market capitalisation climbed to N22.58tn from N22.54tn.

The overall market activity was bullish as the total volume and value traded appreciated by 1103.93 per cent and 405.72 per cent respectively.

A total of 2.40 billion units valued at N16.47bn were exchanged in 4,811 deals, compared to 199.52 million units valued at N3.26bn transacted in 3,917 deals on Friday.

The market sentiment, as measured by breadth, was positive as 18 stocks gained as against 15 losers.

Honeywell Flour Mills Plc emerged as the most profitable stock for the day, topping the gainers’ list with a price appreciation of 9.73 per cent to close at N3.72 per share.

Large-cap stocks, including FBN Holdings Plc, Zenith Bank Plc, Access Bank Plc and Guaranty Trust Holding Company Plc, recorded gains at the end of trading.

On the downside, UPDC led with a price depreciation of 9.74 per cent to close at N1.39 per share.

The sector performance was positive as four of the five major sectors appreciated, led by NGX Oil & Gas (1.27 per cent), NGX Insurance (0.86 per cent), NGX Banking (0.76 per cent) and NGX Consumer Goods (0.01 per cent), while the Industrial Goods Index shed 0.14 per cent.