Ikeja Hotel, Cutix, others spur NGX-ASI rally by 0.30%

Remarkable gains seen in stocks like Ikeja Hotel, Cutix, RedStar Express, Sunu Assurances and other major advancers caused the Lagos bourse to rally by 0.30 percent on Monday.

Stock investors gained N168billion following the positive close at the beginning of this week, a development which ended earlier bearish trend after the market recorded five days of consecutive negative closes.

The market’s positive return year-to-date (YtD) increased to 33.70 percent, though this month it has decreased by 0.09 percent.

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At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation increased from preceding day’s low of 99,671.28 points and N56.440trillion respectively to 99,966.28 percent and N56.608trillion.

Cutix rose from N4.62 to N5.08, adding 46kobo or 9.96 percent. Ikeja Hotel increased from N6.35 to N6.95, adding 60kobo or 9.45percent. Sunu Assurances moved from N1.19 to N1.29, up by 10kobo or 8.40percent, while Red Star rose from N4.05 to N4.38, adding 33kobo or 8.15percent.

Stocks like GTCO, Access Holdings, FCMB Group, Japaul Gold and UACN were actively traded as investors in 8,405 deals exchanged 362.42 million shares worth N7.367billion.