The Nigerian Stock Exchange (NGX) kicked off the week on a positive note, with the All-Share Index edging up by 0.02 per cent to settle at 72,404.91 points. Monday’s trading session painted a picture of subdued activity, characterized by a relatively low turnover value and volume. This subdued nature is attributed to investors gearing up to wind up their accounts for the year.
Equities experienced an uptick of N8.6 billion, culminating in the market capitalization closing at N39.621 trillion. While there was an increase in trading volume to 324.25 million units, as opposed to last Friday’s 307.15 million units, the trading value saw a dip to N4.40 billion from N6.57 billion recorded the previous trading day.
Noteworthy gainers in this session include INFINITY, which soared by 9.93 per cent to close at N3.10; JOHNHOLT, achieving a 9.87 per cent increase to close at N2.45; TRANSCOHOT, ascending by 9.38 per cent to close at N51.30; SCOA, marking an 8.62 per cent surge to close at N1.89, and FTNCOCOA, notching up a 7.53 per cent rise to close at N1.57.
Conversely, some stocks experienced declines, with ABCTRANS slipping by 9.89 per cent to close at N0.82; ETRANZACT, down by 9.42 per cent to close at N6.25; RTBRISCOE, sliding by 8.33 per cent to close at N0.55; SOVRENINS, marking a 7.69 per cent drop to close at N0.36, and NAHCO, facing a 7.60 per cent downturn to close at N25.00.
In terms of volume, MBENEFIT took the lead with a decline of 4.00 per cent, amounting to 42.08 million units, followed by UBA with 28.72 million units, TRANSCORP with 24.09 million units, STERLINGNG with 20.21 million units, and ZENITHBANK with 17.15 million units.
Regarding value, UBA led the pack with N689.91 million, trailed by ZENITHBANK with N635.32 million, MTNN with N593.55 million, GTCO with N434.22 million, and ACCESSCORP with N343.17 million.
The trading session bore negative implications for tier-1 banks, as evidenced by price declines in GTCO, ACCESSCORP, ZENITHBANK, and FBNH. However, UBA stood out with a price gain of 0.41 per cent.
The week’s trading at the Nigerian Stock Exchange presents a nuanced landscape, marked by gains and losses across various stocks amidst the backdrop of investors winding up their portfolios for the yuletide season.
