Nigeria’s equities market trading opened on a positive note on Monday for the week with a gain of N10 billion recorded in market capitalization.
The trading session showed that the Nigerian Exchange Group’s (NGX’s) All-Share Index (ASI), which tracks the performance of stocks across the board rose by 0.04% to 48,899.08 basis points.
Following the positive performance of the day’s trading, gains to investors further grew from the previous week’s return of investment to shareholders of listed companies on the exchange.
According to available data on the deals, investors traded 236.59 million shares valued at N2.52 billion in 3,337 deals, representing a 134.66% increase from 100.82 million shares worth N1.14 billion exchanged in 2,440 deals on Friday.
Also, the data from the NGX managers indicated that the top five gainers at the end of the day’s trading session were Learn Africa Plc (9.70%), Jaiz Bank Plc (9.20%), SCOA Nigeria Plc (8.86%), Sunu Assurance Plc (7.14%), and J.A. Paul Gold & Ventures Plc (3.70%).
The top ASI losers comprised Royal Exchange plc (-9.88%), Neimeth Pharmaceuticals Plc (-8.57%), AXA Mansard Insurance Plc (-4.52%), Sterling Bank Plc (-3.60%), and Courtville Business Solutions Plc (-2.17%).
The NGX authorities further reported that Access Holdings Plc was the most traded stock as investors exchanged 120.98 million units of its shares in 172 deals, followed by Jaiz Bank Plc at 19.04 million shares in 52 deals.
Similarly, Access Holdings also dominated the chart by value at N1.03bn worth of shares in 172 deals.
Meanwhile, investment experts at Bancorp Securities Limited’s had predicted early Monday that the equities market would sustain its positive sentiments this week on the back of last week’s trading sessions’ impressive indices.
The experts Bancorp Securities, one of Nigeria’s leading investment research and consultancy services providers, in the firm’s ‘Weekly Stock Recommendations: Dec 12-Dec 17 2022’ predicted: “We expect the current trend of positive sentiment to persist ahead of the year-end earnings season.”
It would be recalled that the equities market closed green last Friday as bulls regained control of the trading.
As a result, the All Share Index (ASI) by 1.06% to close at 48,881.93 points just as the market capitalization appreciated by N281 billion.
