Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited further increased by 0.83 per cent on Monday, stretching its winning streak to five straight sessions this year.
The market indices remained in the green territory as the demand for local stocks rises, with investors trading 1.2 billion shares worth N15.3 billion in 16,081 deals compared with the 892.7 million shares worth N14.3 billion traded in 13,019 deals last Friday, representing a jump in the trading volume, value, and the number of deals by 33.33 per cent, 6.99 per cent, and 23.52 per cent, respectively.
Data gathered by Business Post showed that Transcorp was the busiest stock on the first trading session of the week, exchanging 298.3 million units valued at N4.1 billion.
FCMB traded 106.1 million units worth N1.1 billion, Fidelity Bank transacted 87.7 million units for at N1.2 billion, Sterling Holdings sold 62.6 million units valued at N395.1 million, and Unity Bank transacted 32.6 million units worth N82.3 million.
During the session, Omatek, Cornerstone Insurance, Julius Berger, Jaiz Bank, and Lasaco Assurance ended as the best-performing stocks after gaining 10.00 per cent each to trade at 99 Kobo, N1.87, N46.75, N2.53, and N2.42 apiece.
On the flip side, DAAR Communications topped the losers’ chart after it lost 9.30 per cent to quote at N1.17, Eterna dropped 8.79 per cent to N15.05, CWG depreciated by 7.05 per cent to N8.30, PZ Cussons went down by 6.90 per cent to N27.00, and Fidelity Bank fell by 5.99 per cent to N13.35.
Analysis indicated that there were 54 appreciating equities yesterday and 18 depreciating equities, implying a positive market breadth index and a strong investor sentiment.
The five key sectors of the market ended in the green zone on Monday, with the insurance counter growing by 6.28 per cent and the banking space rising by 2.23 per cent.
Further, the industrial goods index appreciated by 0.67 per cent, the energy sector went up by 0.59 per cent, and the consumer goods space improved by 0.13 per cent.
As a result, the All-Share Index (ASI) finished higher by 659.87 points to an all-time high of 80,324.53 points from 79,664.66 points, and the market capitalisation increased by N363 billion to N43.957 trillion from N43.594 trillion.
