The Nigerian Exchange Limited, NGX, the stock market began the week favourably on Monday, with investors gaining over N534 billion.
The NGX-All Share Index, ASI, climbed 1.6% to 61,949.24 points on the back of increased purchasing activity in MTN Nigeria (1.7%), Stanbic IBTC (9.3%), and Access Corporation (9.9%).
As a result, the year-to-date return jumped to 20.9% from 19.0% on Friday, while market capitalization increased by N534.0 billion to N33.7 trillion.
The volume of transactions increased by 20.8% to 1.2 billion units, but the amount transacted decreased by 12.0% to N14.1 billion.
Sectoral research revealed that performance across sectors under our purview was good, with all six indexes rising. Following price increases in Zenith Bank (2.9%), Fidelity Bank (100%), and MANSARD (4.6%), the Banking and Insurance indexes increased 6.8% and 1.8%, respectively. The Oil & Gas and AFR-ICT Indices trailed by 1.5% and 0.9%, respectively, due to price increases in Conoil at 6.0%, Eterna at 10.0%, and MTN Nigeria at 1.7%. Furthermore, purchasing interest in Dangote Sugar led to a 3.0% gain in its price, followed by Unilever’s 7.4% and PZ’s 4.6%, which drove the Consumer and Industrial Goods Indices up by 0.5% and four basis points, bps, respectively.
cc: Vanguard Ng
