The Nigerian stock market opened the week on a positive note, with investors’ wealth rising by N160 billion as the market extended its winning streak to three consecutive sessions.
The gain was driven by buying interest in Royal Exchange, NGX Group, RT Briscoe, Secure Electronic Technology, Prestige Assurance and 16 other stocks, despite a broader decline in market breadth. Market capitalization, which opened at N157.587 trillion, rose by N160 billion to close at N157.747 trillion.
Similarly, the All-Share Index increased by 0.10 per cent, or 246.50 points, to 243,299.24 points from 243,052.74 points recorded on Friday, September 11.
The market’s year-to-date return consequently improved to 56.35 per cent. Despite the overall gain, market breadth closed negatively, with 28 stocks recording losses against 21 gainers.
John Holt led the losers’ chart, declining by 10 per cent to close at N8.10 per share. Ellah Lakes and Daar Communications followed, shedding 9.80 per cent each to close at N9.20 and N1.38 per share, respectively.
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Regency Alliance Insurance also fell by 8.97 per cent to close at 71k, while Learn Africa declined by 8.67 per cent to finish at N7.90 per share.
On the gainers’ side, NGX Group and Royal Exchange led with 10 per cent increases each, closing at N162.80 and 99k per share, respectively.
RT Briscoe gained 9.88 per cent to close at N8.90, while Secure Electronic Technology rose by 7.69 per cent to 70k. Prestige Assurance also advanced by 7.19 per cent to close at N1.49 per share.
Trading activity showed a decline in both the volume and value of transactions, although the number of deals increased during the session.
A total of 428.97 million shares valued at N20.52 billion exchanged hands in 54,592 transactions, compared with 582.89 million shares worth N25.79 billion traded in 45,678 deals on Friday.
Sterling Nigeria led trading volume with 78.05 million shares, accounting for 18.20 per cent of the day’s total volume. Aradel Holdings recorded the highest transaction value at N2.48 billion.
NAN
