Investors’ interest in GTBank, Dangote Sugar, and 26 other stocks caused the Nigerian equity market to start the week on a positive note, appreciating 0.19 per cent.
The All-Share Index (ASI) rose by 48.33 absolute points, representing a 0.19 per cent appreciation to close at 25,316.15 points, as the Market Capitalization gained N25.20 million to close at N13.19 trillion.
NACHO & JAPAULOIL gained 10 per cent to top 26 other advancers, while FIDSON shed 9.71 per cent to emerged top loser amongst nine others.
Despite the rally in the market, activity was weak as volume and value stocks traded declined 22.2 per cent and 40.9 per cent to 253.3 million units and ₦2.6 billion respectively.
FBNH (41.0m units) GTBank (36.2m units), and JAPAULOIL (25.4m units) were the most active equities in volume terms, while GTBank (₦887.5m), ZENITH (₦369.9m) and MTNN (₦278.3m) led by value.
The Banking sector (+1.3 per cent) was the best advancer, driven by price appreciation in GTBank (+2.3 per cent), Access Bank (+1.4 per cent) and Zenith Bank (+0.9 per cent), followed by the Industrial (+0.5 per cent) and Consumer Goods (+1.1%) sectors, while were lifted by buying interest in Bua Cement (+0.7 per cent) and Dangote Sugar (+9.7 per cent) respectively.
Meanwhile, profit-taking in MANSARD (-8.9 per cent) dragged the Insurance sector down 0.9 per cent, while the Oil & Gas and AFR-ICT indices were unchanged.