The Nigerian Stock Exchange opened the week on a positive note on Monday, with a market capitalisation increase of N10bn.
The All Share Index appreciated by 0.02 per cent, closing at 102,370.62 points, slightly up from 102,353.68 points recorded on the previous trading day. Despite the positive movement, the market is still negative for both the year-to-date and month-to-date, with a decrease of -0.48 per cent for each. The week-to-date figure, however, stands at a modest 0.02 per cent increase.
A total of 1,250,749,735 shares were traded across 11,477 deals, valued at N16.35bn. The market breadth closed positively, as 28 stocks recorded gains, while 22 stocks experienced declines in share prices. This indicates a more optimistic market sentiment despite the volatility seen in some sectors.
Among the top gainers, Caverton led with a 10.00 per cent increase in its share price, closing at N2.42, up from N2.20. Neimeth followed closely with a 9.91 per cent rise, moving from N3.43 to N3.77. SCOA Nigeria saw a 9.68 per cent gain, closing at N2.72 from N2.48. UPDC was up by 9.52 per cent, closing at N1.84, from N1.68. Sovereign Trust Insurance plc. also posted a 9.09 per cent increase, rising from N1.10 to N1.20.
On the other hand, the top losers saw more declines. Eunisell recorded the highest loss, dropping by 9.99 per cent, closing at N14.06, down from N15.62. John Holt followed with a 9.63 per cent decrease, from N10.18 to N9.20. Secure Electronic Technology plc fell by 8.99 per cent, closing at N0.81, down from N0.89. Honeywell Flour Mill dropped by 8.59 per cent, closing at N9.05, from N9.90. Cornerstone Insurance Plc also experienced a 7.39 per cent decline, falling from N4.06 to N3.76.
In terms of high-volume and high-value transactions, Universal Insurance Company recorded the highest volume of trades, with 27.7 million shares traded, valued at N18.71m. Zenith Bank traded 16.7 million shares, amounting to N785.84m. Oando had the highest trade value, with 16.6 million shares traded, valued at N1.24bn. Fidelity Bank followed with 15.8 million shares traded, valued at N279.45m. Veritas Kapital Assurance Plc also saw 15.8 million shares traded, valued at N23.73m.
The PUNCH reported that the Nigerian equity market experienced a loss last week, shedding N1.45tn in market capitalisation. The All-Share Index fell by 2.94 per cent, closing the week at 102,353.68 points, while the market capitalisation also dropped by 2.26 per cent to N62.85tn.
