Stock Market Commence on Positive Note as Investors Trade N13.3bn Shares 

Kayode Tokede

The investors on stock market section of the Nigerian Exchange Limited (NGX), yesterday traded 553.2 million shares valued at N13.3 billion in 28,907 transactions as the bourse commended the week on a positive note.

This is compared with 571.7 million shares valued at N29.04 billion recorded

across 20,418 deals

on the close of transaction last week…

This revealed 54 per cent and three per cent decline in turnover and volume respectively with 42 per cent growth in deals.

At the close of trading activities, FCMB Group recorded the highest volume, with 92.04 million shares traded, while Vitafoam  Nigeria recorded the highest value, at N1.77 billion.

The stock market opened the week slightly positive, extending the gains of the previous week as investors gained N3 billion in value.

Market capitalisation rose by N3 billion or 0.003 per cent, closing at N95.267 trillion from N95.264 trillion on Friday.

Also, the NGX All-Share Index  climbed 4.62 basis points or 0.003 per cent, ending at 149,437.88 basis points  up from 149,443.26 basis points the market opened for trading.

This led the year-to-date (YTD) return increase to 45.19 per cent while the market breadth closed positive, recording 28 gainers and 23 losers.

On the gainers’ chart, Sovereign Trust Insurance led by 10 per cent, ending the session at N3.74, Guinness Nigeria followed by 9.96 per cent, settling at N239.50 while Mecure Industries grew by 9.88 per cent, closing at N41.70 per share.

Similarly, AIICO Insurance and First Holding Company increased by 9.86 per cent each, finishing at N3.79 and N34.55 per share.

On the other hand, Prestige Assurance led the losers’ chart by 10 per cent, settling at N1.53, FTN Cocoa Processors trailed by 8.16 per cent, finishing at N4.50 and Guinea Insurance dipped by 7.69 per cent, closing at N1.08 per share.

Royal Exchange dipped by 7.25 per cent, ending the session at N1.79 while Nigerian Breweries fell by 6.86 per cent, closing at N76.75 per share.