• Thursday, March 28, 2024
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Nigeria’s equities market opens new week with N177bn gain

Bears seen not ready to relinquish position on Nigerian Bourse

Trading on the floor of the Nigerian Exchange (NGX) Limited opened the new week on a positive note. The market rose by 0.89percent on Monday while investors in stocks booked over N177billion gain.

Equities like Julius Berger, Stanbic IBTC, UACN, John Holt, and International Breweries topped investors’ picks.

The market’s benchmark performance indicators –the All Share Index (ASI) and market capitalisation increased from 38,382.39 points and N20.082 trillion to 38,722.87 points and N20.259trillion respectively.

Read Also: These 5 Nigerian stocks control 80% market capitalisation

Union Bank, GTBank, FBN Holdings, Zenith and Transcorp were most traded stocks on the Bourse. In 4,299 deals, investors exchanged 277,235,456 units valued at N3.053billion.

Julius Berger led the advancers after its share price moved up from N17 to N18.7, adding N1.7 or 10.percent. Stanbic IBTC also rose from N40 to N44, up by N4 or 10percent.

The market’s negative return year-to-date (ytd) has decreased to -3.84percent. Month-to-date (MtD), the market has decreased by 2.71percent.

UACN made the top gainers league, moving from N7.5 to N8, up 50kobo or 6.67percent. John Holt rose from 46kobo to 49kobo, up by 3kobo or 6.52percent, while International Breweries rose from N5.1 to N5.4, gaining 30kobo or 5.88percent.