NGX Investors Gains N363 Billion in Monday Trading Session

It is reported that the Nigerian Exchange Ltd (NGX) All-Share Index yesterday surpassed 80,000 basis points to settle at 80,324.53 benchmarks by earning 0.8% or 600 points, from the record of Friday that settled at 79,664.66.

Nigerian equities finished yesterday as stocks gained N363 billion to close at N43.957 trillion amidst the Santa Claus rally that happened all through last week.

NGX ASI gained 663.92 points, which shows a gain of 0.83% to close at 80,328.58 points. Also, market capitalisation rose by N363 billion to close at N43.957 trillion.

Year-to-date (YTD) returns increased by 7.42% as a total of 1.19 billion shares valued at N15.26bn were exchanged in 16,081 deals.

Analysis shows that buying interests in Tier-one banks like Zenith Bank, Fidelity Bank, Guaranty Trust Company, and United Bank of Africa (UBA) kept the market positive. In yesterday's trade, 53 equities were gained while 13 stock lost.

Top Gainers:  Omatek, Cornerstone Insurance, Julius Berger, Jaiz Bank, and LASACO Assurance led with 10% each to close at 99k, N1.87, N46.75, N2.53, and N2.42 per share, respectively. Daar Communication followed with 9.30% to close at 12k.

Top Losers: Eterna lost 8.79% to close at N1.45, while CWG Plc finished by 7.05%  to close at 63k per share. PZ followed with a 6.90% decline to close at N2.00 and Fidelity Bank declined by 5.99% to close at 85k per share.

Transcorp led the activity table in volume with an exchange of 298.30 million unit shares valued at N4.08 billion, followed by First City Monument Bank (FCMB), with 106.05 million unit shares of deals worth N1.1 billion.

Fidelity Bank exchanged 87.7 million units of shares valued at N1.2 billion, while Sterling Nigeria traded 62.55 million units of shares valued at N3.95 billion. Unity Bank exchanged 32.57 million shares valued at N8.23 billion.

Last week,  it was reported by some financial experts that trade at the NGX would appreciate due to a wave of “buy the hype,” which could make the ASI hit the 80,000 mark in the coming weeks.