NGX key market indices open week with 0.04% growth
Also, the market capitalisation increased by nine billion naira to N20.577 trillion compared with N20.568 trillion achieved on Friday.
The market gain was driven by price appreciation in large and medium capitalised stocks, amongst which are; Nigerian Breweries, Fidson Healthcare, Lafarge Africa, Africa Prudential and Guaranty Trust Bank.
Analysts at United Capital Plc anticipated that profit-taking would dominate trading following gains posted by the stock market last week.
“This week, we expect some profit-taking on the bourse in light of the considerable price appreciation observed last week.
“However, strong corporate releases in the coming week could support decent buying momentum,” they said.
Consequently, market sentiment was positive with 25 gainers compared with 17 laggards.
Linkage Assurance and Transcorp dominated the gainers’ chart in percentage terms, gaining 10 per cent each to close at 88k per share, respectively.
Cornerstone Insurance followed with 9.62 per cent to close at 57k, while Fidson Healthcare appreciated by 9.09 per cent to close at N4.80 per share.
Unity Bank gained 8.47 per cent to close at 64k per share.
On the other hand, Conoil led the losers’ chart in percentage terms with 9.33 per cent to close at N17.00 per share.
Ikeja Hotel followed with a decline of 9.09 per cent to close at N1, while Sovereign Trust Insurance shed eight per cent to close at 23k per share.
Nigerian Aviation Handling Company shed 6.67 per cent to close at N2.10, while Jaiz Bank depreciated by 4.76 per cent to close at 60k per share.
Also, the total volume of shares traded increased by 14.88 per cent with an exchange of 329.74 million shares valued at N2.06 billion in 4,308 deals.
This was against a turnover of 287.04 million shares worth N3.04 billion transacted in 3,578 deals on Friday.
Transactions in the shares of Transcorp topped the activity chart with 92.54 million shares valued at N81.28 billion.
FBN Holdings followed with 23.89 million shares worth N177.33 million, while AXA Mansard Insurance traded 20.05 million shares valued at N18.36 million.
Access Bank sold 17.12 million shares worth N128.96 million, while Guaranty Trust Bank transacted 16.44 million shares valued at N513.55 million.
