Nigerian Stock Market Opens the Week in Green as Investors Scoop Banks’ Shares

The Nigerian Exchange Limited (NGX) extended last week’s bullish run to post another N56 billion gain after N355 billion recorded last week.

Investors transacted 116,280,764 shares estimated at N3.465 billion in 4,525 deals during the trading hours of Monday. UBA was the most traded equity, accounting for 12925657 shares worth N96,876,749.90. Followed by Zenith Bank’s 10675813 shares valued at N235,677,454.55.

Analysing each of the sectors, the banking sector shed 4 basis points (bps) on 0.92%, 0.90% and 0.31% decline in the values of Union Bank of Nigeria, Zenith Bank and Fidelity Bank. Wema Bank, Sterling Bank, FCMB and UBA closed in the green.

Similarly. the consumer goods sector dropped 64bps on the back of depreciation in the worth of Honey Floor and NB. Flour Mills, however, closed with a 2.41% gain.

The oil and gas sector appreciated by 402bps on 10% gain in Seplat Energy. However, the industrial sector was unchanged.

Market value of listed stocks rose by N56 billion to N28.214 trillion, up from N28.158 trillion it closed on Friday. The NGX All-Share Index appreciated by 0.20% from 52,215.12 index points recorded last week to 52,319.94 index points on Monday.

The Exchange year to date gain improved to 22.48%. See other details below.

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