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Bellwether stocks lift Nigerian equity market by 0.93%



Gains recorded by MTNN, Access bank, Zenith bank and 28 others lifted the Nigerian equity market by 0.93 per cent on Monday.

The All-Share Index (ASI) increased by 233.60 absolute points, representing a growth of 0.93 per cent to close at 25,249.90 points as the Market Capitalization gained N121.89 million, representing an increase of 0.93 per cent to close at N13.17 trillion.

The market has lost 5.93 per cent this year.

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WAPIC added 10.00 per cent to top 31 other gainers, while JAPAULOIL shed the same percentage to emerge as the top loser out of 11 others.

Activity level was mixed as value traded declined by 14 per cent to ₦2.1 7billion, while volume traded expanded by 7.5 per cent to 230.5 million units.

FBNH (3 4.5m units) GTBank (2 2.9m units), and Japaul Oil (2 1.3m units) were the three most active equities, while GTBank (₦550.1m), Zenith Bank (₦327.1m) and FBNH (₦188.4m) led the value chart.

The Healthcare and ICT sectors were the top gainers, up by 3.52 per cent and 1.17 per cent respectively owing to buy an interest in FIDSON (+9.8 0%), NEIMETH (+9.6 0%) and MTNN (+1.7 2%).

Also, gains in OANDO (+2.2 7%) , ACCESS ( +2.2 6%) and NAHCO (+0.3 5%) drove the Banking (+9 7bps), Services ( +1 9bps) and Oil & Gas ( +1 0bps) indices higher.

On the flip side, the Consumer Goods index moderated by 2bps due to selloffs in DANGSUGAR (-2.6 8%) and GUINNESS (-1.6 4%). Elsewhere, the Industrial Goods and Agriculture indices closed flat.

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