The Nigerian equity market on opened the week on a positive note with a gain of 0.58 per cent on Monday.
Investors gained N324 billion or 0.58 per cent, as the market capitalisation which opened at N56.128 trillion, closed at N56.452 trillion.
Meanwhile, the All-Share Index also closed 0.58 per cent or 573 points stronger to close at 99,793.71 as against 99,221.14 recorded on Friday.
Consequently, the Year-To-Date (YTD) return rose to 33.46 per cent.
The market’s positive performance was primarily driven by gains in Seplat, Guaranty Trust Holding Company (GTCO) Zenith Bank, United Bank For Africa(UBA), Transcorp Hotel and Nigerian Breweries, among other advanced equities.
Market breadth closed positive with 30 gainers and 10 losers on the floor of the Exchange.
On the gainers’ chart, Flour Mill led by 10 per cent to close at N41.80 per share.
Conversely, eTranzact led the losers’ chart to close at N4.55, Daar Communications trailed at 9.52 per cent to close at 57k per share.
Market analysis revealed that trade turnover settled higher relative to the previous session with the value of transactions up by 83.55 per cent.
A total of 963.54 million shares valued at N13.50 billion were exchanged in 8,657 deals, compared to 388.02 million shares valued at N7.35 billion exchanged in 7,106 deals.
The activity chart was led by Fidelity Bank in volume and value with 605.26 million shares worth N6.03 billion, Access Corporation followed by 93.07 million shares valued at N1.74 billion.
UBA transacted 58.73 million shares worth N1.26 billion, Nigerian Breweries traded 45.26 million shares valued at N1.27 billion and Zenith Bank sold 16.08 million shares worth N539.55 million.
