Monday’s transactions were fueled by expectations of a year-end yuletide rally. The stock market continued to surge from the previous session, resulting in a further increase in market capitalization of N70 billion.
The market capitalization of listed shares increased by 0.18 percent to N39.218 trillion at the closure of operations yesterday on the Nigerian Exchange Limited (NGX), from N39.148 trillion at the close of business on Friday. Additionally, from 71541.74 points exchanged on Friday to 71669.91 points, the All Share Index gained 128.17 basis points.
Price increases in major and medium-sized capitalization companies, such as those of SFS Reits, Ecobank TransNational Incorporated (ETI), MTN Nigeria, Flourmills, UACN, BUA Cement, Zenith Bank, Fidson, and Mansard, affected the upturn.
SFS Reits led the gainers’ chart on the price movement chart, gaining 9.98% to close at N101.35 kobo, while ETI gained 9.88% to settle at N22.80 kobo.
SCOA Plc climbed 9.63 percent to close at N1.48 kobo, Infinity Savings gained 9.60 percent to close at N1.94 kobo, and Capital gained 9.84 percent to close at 67 kobo. UPL closed at N2.56 kobo after appreciating by 8.94%. With 8.82 percent of the vote, Regency Alliance closed at 37 kobo. Mansard closed at N4.56 kobo, up 6.05% as well.
In contrast, RTBriscoe, which dropped 9.68% to close at 56 kobo, was at the top of the losers’ leaderboard.
Following with losses of 9.33%, NSLTech and NEM Insurance closed at 68 kobo and N5.35 kobo, respectively. Northern Nigeria Flour Mills closed at N35.25 kobo, down 8.44% from the previous trading day.
UPDC REIT closed at N4.60 kobo, down 8% from its opening price. Mecure closed at N12 after declining 7.69%. Caverton closed at N1.51 kobo, down 5.63%. Daar Comm closed at 34 kobo, down 5.56% as well.
But as investors traded 375.321 million shares worth N3.853 billion in 7011 trades compared to 503.840 million shares costing N7.208 billion in 5747 deals, the volume of shares moved decreased by 128.519 million, or 25.50 percent.
With 88.844 million shares valued at N31.863 million, transactions involving Veritas Kapital shares topped market activity. Universal Insurance followed with an account of 44.389 million shares priced at N12.705 million.
United Bank for Africa sold a total of 12.869 million shares valued at N291.321 million, Fidelity Bank traded 23.716 million shares for N216.153 million, and AccessCorp moved 30.368 million shares worth N612.699 million.
