The Nigerian equities market opened the week on a positive note on Monday, with market capitalisation increasing by N160bn to N157.747tn, compared with N157.587tn at the previous close. The gain followed price appreciation recorded in Nestle Nigeria Plc and 18 other stocks.
The All-Share Index also advanced by 246.50 points, or 0.10 per cent, to close at 243,299.24 points. The increase in the index was supported by gains in medium and large-capitalised stocks such as Nestle Nigeria, Nigerian Exchange Group Plc, FBN Holdings Plc, Custodian Investment Plc and Dangote Sugar Refinery Plc.
Despite the gain in overall market value, market breadth closed negative, with 28 losers against 19 gainers. Royal Exchange Plc and Nigerian Exchange Group Plc led the gainers’ table, gaining 10 per cent each to close at 99k and N162.80 per share respectively. RT Briscoe Nigeria Plc gained 9.88 per cent to N8.90, while Secure Electronic Technology Plc and Prestige Assurance Plc rose by 7.69 per cent and 7.19 per cent to close at 70k and N1.49 respectively.
John Holt Plc recorded the largest price decline, losing 10 per cent to close at N8.10 per share. DAAR Communications Plc and Ellah Lakes Plc each dropped by 9.80 per cent to close at N1.38 and N9.20 respectively. Regency Alliance Insurance Plc declined by 8.97 per cent to 71k, while Learn Africa Plc fell by 8.67 per cent to N7.90.
Trading activity was lower during the session, with 428.97 million shares exchanged in 54,592 deals, representing a 22.4 per cent decline in volume. The transactions were valued at N20.52bn. Sterling Financial Holdings Company Plc accounted for the highest volume with 78.05 million shares worth N588.87m, followed by Mutual Benefits Assurance Plc with 42.11 million shares valued at N118.14m and Chams Holding Company Plc with 28.50 million shares worth N98.42m.
Fidelity Bank Plc and Access Holdings Plc were also among the most actively traded stocks, recording 25.84 million shares valued at N497.82m and 21.58 million shares worth N613.81m, respectively.