Equities investors gain N176bn as NGX ASI up 0.25%
BY TEMITOPE ADEBAYO
The Nigerian Exchange (NGX) started the week on a positive note, with the All-Share Index rising by 0.25 per cent to close at 112,015.95 points. Market capitalisation increased by N176 billion to close at N70.64 trillion.
The market rally was driven by gains in MTNN (+3.18 per cent), OANDO (+2.65 per cent), and FBN Holdings (+2.00 per cent), which outweighed losses recorded by ZENITHBANK (-0.10 per cent), HONYFLOUR (-4.76 per cent), and FIDELITYBK (-2.06 per cent).
Trading activity declined, with volume down 72.75 per cent to approximately 98.82 million units traded. Transaction value fell by 84.30 per cent to N1.88 billion, while the number of deals dropped by 8.76 per cent. FIDELITYBK led both volume and value charts.
Market breadth closed negative at a ratio of 0.70 to 1, as declining stocks outnumbered advancing ones. LEGENDINT led the laggards, falling by 9.90 per cent, while MULTIVERSE led the gainers with a 9.87 per cent increase.
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On the NASD OTC Securities Exchange, the market closed slightly down, with the NASD Security Index dipping 0.04 per cent to 3,246.8 points, lowering market capitalisation to N1.90 trillion.
Market activity on NASD, however, surged with volume traded up 324.75 per cent to 360,218 units. The value of trades jumped by 1,238.30 per cent to N16.90 million across 33 deals, marking a 230 per cent increase in trade count.
