Positive Start For Stock Market With 1.9 Percent ASI Surge

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The Nigerian stocks began the week on a positive note, showcasing the sustained bullish momentum as the benchmark index strengthened by 1.92 Percent; closing at 84,640.89 points.

At the Nigerian Exchange Limited (NGX) on Monday, key players such as Dangote Cement, BUA Cement, and Zenith Bank contributed to the market’s upward trajectory with their shares gaining 7.14 Percent, 0.59 Percent, and 3.60 Percent, respectively. This surge propelled the market capitalisation of listed equities: reaching N46.32 Trillion, marking a 1.92 Percent increase. The year-to-date gain for the All-Share Index (ASI) rose to 13.20 Percent.

In terms of market breadth, positive sentiment prevailed with 66 gainers and 8 losers. PZ and Sovereign Insurance led the day’s gains, each appreciating by 10 Percent, while Abbey and Julius Berger headed the losers’ list, experiencing declines of 9.5 Percent, and 3.5 Percent.

Further showcasing bullish sentiment, sub-sector indices, including NGX Banking, NGX Insurance, NGX Consumer Goods, NGX Oil/Gas, and NGX Industrial Goods, witnessed gains ranging from 0.0 Percent to 7.23 Percent.

Market activity exhibited notable improvement, with total deals, traded volume, and value soaring by 16.67 Percent, 34.44 Percent, and 21.25 Percent, respectively. Transnational Corporation emerged as the most traded security by volume, with 66.89 Million units worth N956.01 Million changing hands in 819 trades.

 

 

 

 

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