Gains by MTN Nigeria, UBA and 14 other stocks spurred the Nigerian equity market to 11th consecutive trading gains on Monday.
The All-Share Index (ASI) increased by 218.19 absolute points, representing a growth of 0.74 per cent to close at 29,633.58 points, while the Market Capitalization gained N112.56 trillion, representing an increase of 0.74 per cent to close at N15.29 trillion, as investors cherry-pick of major bellwethers stocks.
The volume and values of equities investors traded were up 75 per cent and 20 per cent to 8.41 million units and ₦336 billion respectively.
MTNN made the greatest gains, appreciating 10 per cent, following last Friday withdrawal of a court case by the Attorney General of the Federation (AGF) over an alleged revenue indebtedness, while CADBURY topped 20 other losers, having shed -9.95 per cent.
Access Bank (63.68m units), UBA (40.63m units) and Zenith Bank (39.80m units) were the three top traded equities in terms of volume, while SEPLAT (₦2.57 billion), MTNN (₦1.51billion) and Zenith Bank (₦861.14 million) were the most active stocks by value.
The Conglomerates and Healthcare sectors were the only gainers, u p b y 7.73 per cent and 2.18 per cent respectively, due to appreciation by UACN (+7.80 per cent) and GLAXOSMITH (+6.60% per cent). On the flipside, the Services, Financial Services and Consumer Goods sectors declined by 3.75 per cent, 0.87 per cent and 0.35 per cent respectively on the back of sell pressures on CADBURY (+9.95%), UNILEVER (-5.26%), FBNH (-5.23%),etc.
The bourse which shed over -14 per cent last year, has posted 10.40 per cent return this year.