Stock Exchange Market Gains N22.56 Billion

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  • Stock Exchange Market Gains N22.56 Billion

The Nigerian Stock Exchange market gained N22.56 billion on Monday following a better than expected performance from three sectors.

The market capitalisation surged from N11.822 trillion recorded on Friday to N11.844 trillion on Monday as insurance, banking, and consumer goods sectors closed positive.

The insurance index gained 0.8 percent, while banking and consumer goods indices gained 0.4 percent and 0.1 percent, respectively.

Volume traded declined by 27.6 percent to 120.7 million units, while value transacted dropped by 9.9 percent to N1.3 billion.

The gauge of the index, NSE All-Share Index, increased by 0.2 percent to 32,444.96 basis points. The yearly return to date improved to -15.2 percent.

The top traded stocks by volume were GTB (21.6 million), First City Monument Bank Plc (21.4 million), and NEM Insurance (11.2 million), while the top traded stocks by value were GTB (N788.6m), Zenith Bank (N125.8m) and Nestlé Nigeria Plc (N67.7m).

A total of 16 stocks gained against 11 decliners to boost market sentiment.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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