Chiamaka Okechukwu On Jul 24, 2023
Equities investors witnessed gains on the flour of the Nigerian Exchange Group Limited, NGX, as Monday’s trading session saw the market capitalisation increased by N144 billion amid renewed bargain hunting and profit-taking activities.
The market sentiment remained positive as investors await the outcome of the ongoing Monetary Policy Committee meeting of the Central Bank of Nigeria.
Consequently, the All-Share Index at the Exchange appreciated by 264. 89 basis points representing a 0.42% increase to close at 65,268.28 points compared to 65,033.39 points recorded on Friday.
At the end of the day’s transactions, the market capitalisation of listed equities appreciated by N144.23 billion to close at N35.539 trillion higher than Friday’s N35.394 trillion.
The trading session closed with 32 gainers and 33 decliners.
Profit-taking activities engaged by investors saw the market record 10% gains on the shares of FTN Cocoa Processors, GLAXOSIMTH, LASACO and NASCON as their respective prices closed at N2.20k, N8.25k, N1.76k and N31.90k.
STANBIC followed with a 9.97% gain on its share price to close at N68.95k while SKYAVN had a 9.88% profit on its share price to close at N17.80k.
On the flipside, IKEJA Hotel led the decliners chart with a 9.86% loss on its share price to close at N3.93k, followed by ABBEYBDS with a 9.82% loss on its share price to close at N1.01k; then THOMASWY shares dropped by 9.55% to close at N1.42k.
The market sentiment when measured by market breadth ended positive in the total deals and volume increased by 9.51% and 7.88% to 9,768 and 831.5 million shares but the value of trades dropped by 9.31% to close at N35.54 billion.
FBN Holdings was the most active stock for the day with 346.99 million shares worth N7, 436.78 million exchanging hands in 878 deals. UBA followed with 62.786 million shares worth N925.93 million in 710 deals.
