Despite weak investor sentiments, investors trading on the floor of the Nigerian Exchange Limited (NGX) have recorded N274 billion gain in six trading sessions.
The local bourse had recorded a marginal gain as the NGX All-Share Index rose 1.1 per cent week-on-week (w/w) to settle at 42,353.31 points while market capitalisation rose by N252.8 billion w/w to reach N21.107 trillion last week due to gains in Dangote Sugar, MTNN and TotalEnergies.
Further gains in Dangote Cement, Neimeth and Royal Exchange Plc drove the ASI 0.10 per cent higher to close at 42,394.71 points on resumption of business yesterday.
This was even as market capitalization increased by N21 billion to close at N22.128 trillion. This means that investors have gained over N274 billion in six trading days.
Further analysis of the performance of the stock market yesterday showed that the volume of stocks traded stood at 142.17 million shares, while the value of stocks traded stood at N2.48 billion, exchanged in 3,749 deals.
The top traded stocks include FBN Holdings, which traded 201.89 billion shares valued at N244.71 million, GTCO followed with the sale of 105.74 million shares worth N270.90 billion, while Sovereign Insurance sold 101.06 million shares valued at N242.44 million.
Investors’ appetite for stocks was strong on Monday as 20 stocks recorded gains, while 11 stocks recorded losses.
Neimeth topped the gainers’ chart with 9.82 per cent to close at N1.79, UPDC was next with 9.43 per cent to close at N1.16, Royal Exchange Plc increased with 8.70 per cent to close at 0.75 kobo, Mutual Benefits added 7.69 per cent to close at 0.28 kobo, while Regal Insurance rose by 7.32 per cent to close at 0.44 kobo per share.
On the flip side, Cileasing led the laggards with 8.70 per cent to close at N4.70, Chip Plc followed with 6.90 per cent to close at 0.54 kobo, Wapic fell by 5.88 per cent to close at 0.48 kobo, Lasaco dropped 5.45 per cent to close at N1.04 while NAHCO lost 3.48 per cent to close at N3.33.
Sunnews