July 24, (THEWILL) – The Nigerian equities market opened the week positively on Monday as demand for STANBIC (+10.0% from N68.95 share price), and FBNH (+9.8% shifting from a share price of N21.80 ) drove the All-Share Index higher by 0.4% to 65,268.28 points against 65,003.39 points on Friday.
Market capitalisation closed at N35.53 trillion against N35.39 trillion in the last trading session on Friday recording a gain of N145 billion.
Accordingly, the Month-to-Date and Year-to-Date returns printed +7.1% and +27.4%, respectively.
The total volume traded increased by 7.9% to 831.50 million units, valued at NGN12.94 billion, and exchanged in 9,768 deals. FBNH was the most traded stock by volume and value at 346.99 million units and NGN7.44 billion, respectively.
Sectoral performance was mixed, as the Insurance (+0.2%) index advanced, while the Banking (-0.8%) index declined. On the other hand, the Industrial Goods, Consumer Goods, and Oil and Gas indices closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as 33 tickers lost relative to 32 gainers. IKEJAHOTEL (-10.0% from N2.70) and MULTIVERSE (-10.0% from N3.34) recorded the most significant losses of the day, while FTNCOCOA (+10.0% against N2.20) and GLAXOSMITH (+10.0% against N8.25) topped the gainer’s list.45 GAIN.
On the currency platform, the Naira lost 1.9 percent to close at N792.04/$ against N777.82/$ on Friday.
Volume traded dropped to N49.46 million from $77.99 million on Friday, representing a depreciation of 36.6 percent.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
