Investors gain N851 billion as local stock market opens week higher
At the close of the first trades of the week, the domestic stock market index closed up 2.48%, driven mainly by investor appetite for Dangote Cement shares.
The Nigerian Exchange Limited (NGX) All Share Index (ASI) gained 2.48% to close at 64,603.69 basis points, its highest level since March 17, 2008.
Basically, Dangote Cement benefited from its share buyback program, appreciating 10.0% in value.
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As a result, the year-to-date (YTD) yield rose to 26.05% on Monday.
Equity investors thus gained N850.97 billion in total, with the market capitalization earned standing at N35.180 billion at the end of the day's trading activities.
Besides Dangote Cement, several mid and large cap stocks such as MRS, Conoil, Eterna, FBN Holdings, Transnational Corporation, United Bank for Africa and MTN Nigeria Communication were among the toasts of investors as their respective prices rose by 10.00 percent, 9.97 percent, 9.86 percent, 9.85 percent, 8.96 percent, 4.93 percent and 1.82 percent.
Sector performance was positive as four of the five indices tracked closed in the green zone. The NGX Banking, NGX Insurance, NGX Oil/Gas and NGX Industrial indices increased by 1.73%, 4.18%, 2.61% and 5.13% respectively. On the other hand, the NGX consumer goods index fell 0.18% on the back of strong sell-offs in brewery and consumer goods stocks.
Meanwhile, market activity improved with total transactions, volume and value increasing by 40.33%, 49.80% and 59.11%, respectively to 10,393 transactions, 1, 84 billion naira and 22.03 billion naira.
In terms of volume, FBN Holdings emerged as the most actively traded stock with 198.22 million shares worth N4.42 billion traded in 425 trades.
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At the close of the first trades of the week, the domestic stock market index closed up 2.48%, driven mainly by investor appetite for Dangote Cement shares.
The Nigerian Exchange Limited (NGX) All Share Index (ASI) gained 2.48% to close at 64,603.69 basis points, its highest level since March 17, 2008.
Basically, Dangote Cement benefited from its share buyback program, appreciating 10.0% in value.
Similar Items
As a result, the year-to-date (YTD) yield rose to 26.05% on Monday.
Equity investors thus gained N850.97 billion in total, with the market capitalization earned standing at N35.180 billion at the end of the day's trading activities.
Besides Dangote Cement, several mid and large cap stocks such as MRS, Conoil, Eterna, FBN Holdings, Transnational Corporation, United Bank for Africa and MTN Nigeria Communication were among the toasts of investors as their respective prices rose by 10.00 percent, 9.97 percent, 9.86 percent, 9.85 percent, 8.96 percent, 4.93 percent and 1.82 percent.
Sector performance was positive as four of the five indices tracked closed in the green zone. The NGX Banking, NGX Insurance, NGX Oil/Gas and NGX Industrial indices increased by 1.73%, 4.18%, 2.61% and 5.13% respectively. On the other hand, the NGX consumer goods index fell 0.18% on the back of strong sell-offs in brewery and consumer goods stocks.
Meanwhile, market activity improved with total transactions, volume and value increasing by 40.33%, 49.80% and 59.11%, respectively to 10,393 transactions, 1, 84 billion naira and 22.03 billion naira.
In terms of volume, FBN Holdings emerged as the most actively traded stock with 198.22 million shares worth N4.42 billion traded in 425 trades.
YOU SHOULD NOT MISS THESE HEADLINES FROM THE NIGERIAN TRIBUNE
The thought of not graduating first class gave me hypertension —Shukroh Adeyemi, LASU first class English graduate
Shukroh Adeyemi is a first class graduate of the Department of English, Lagos State University (LASU), for…
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As many as 13 former governors still receive retirement benefits as sitting senators in…
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My children grew up in Ibadan, but I brought them back to the North and married them — Rahinatu, visually impaired beggar
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Tags: bullishinvestorsMarketstockweek
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