By Omobayo Azeez
The Nigerian equities market marginally returned to bullish path on Monday as it commenced another trading week by gaining a sum of N12 billion to close the session.
This led to 0.09 per cent appreciation of the benchmark market index to close at 26,557.77 basis points, a development described by analysts at Cordros Capital as the largest expansion of the index since September 27, 2019.
While the recorded profit was also observed to have been propelled by late cross in Dangote Cement, Dangote Flour Mills Plc and UBA Group Plc. Shares, the Month-to-Date (MtD) and Year-to-Date (YtD) losses moderated to 3.88 per cent and 15.50 per cent respectively.
Similarly, as investors gained N12 billion, the valuation of equities at the nation’s bourse appreciated from N12.917 trillion on Friday to N12.928 trillion on Monday.
Also, total volume of trades increased by 9.96 per cent to 129.08 million units, valued at N2.74 billion and exchanged in 2,595 deals.
GSPEC Plc was the most traded stock by volume at 36 million units, while NESTLE was the most traded by value at NGN1.39 billion.
Sector performances were mixed, as the insurance index gained by 1.85 per cent and industrial goods followed with 0.20 per cent appreciation, while the consumer goods index shed 0.03 per cent and banking index trailed the negative lane by 0.03 per cent. Meanwhile, the oil and gas index closed flat.
Market sentiment, as measured by market breadth, was positive as 10 tickers recorded gains relative to eight losers.
The top performing stocks were Courteville Business Solutions Plc, Fidson Healthcare Plc, Consolidated Hallmark Insurance, AXA Mansard and Dangote Flour, whose respective share prices appreciated by 10 per cent, 9.72 per cent, 7.14 per cent, 6.25 per cent and 3.60 per cent respectively
Conversely, the top decliners are Global Spectrum Energy Services Plc with 9.62 per cent loss; UACN Plc 6.99 per cent; United Capital Plc 4.69 per cent; and FBN Holdings which declined by 2.78 per cent.
Other decliners for the day are Ecobank, Wema Bank, Aiico Insurance Plc and Zenith Bank Plc, whose share prices shed 2.70 per cent, 1.67 per cent, 1.45 per cent, and 0.28 per cent, respectively.
