BY FRANCIS KADIRI, ABUJA
The Nigerian equity market opened the week on a positive note as it rebounded up by 0.97 percent and market indicator recorded a gain of 646.76 basis points.
Consequently, the NGX All-Share Index closed at 67,101.33 basis points, compared to the previous trading session loss of 0.37 percent which closed at 66,454.57 basis points.
Investors’ interest in industrial heavyweight, BUACEMENT which gained 10.00 percent to its share price, alongside WAPCO with 0.17 percent gain and NB advancing by 9.09 percent respectively were the primary drivers of the overall market’s positive performance.
The positive report outweighs losses in Tier-1 banking names, ZENITHBANK whose share price dropped by 0.16 percent, GTCO down by 0.42 percent and ACCESSCORP losing 0.62 percent of its share price.
As a result, the year-to-date return rose to 30.93 percent, while market capitalization gained ₦355.46 billion to close at ₦36.87 trillion.
Further analysis of the market showed that total volume traded declined by 28.18 percent to close at N268.66 million valued at N3.46bn and traded in 6,911 deals.
ABCTRANS was the most traded stock by volume with N29.27m units traded, while ACCESSCORP was the most traded stock by value with N465.98m units traded.
At the close of trading, the market recorded 26 gainers, 23 losers, and 65 unchanged. BUACEMENT topped the gainers list, while PRESTIGE topped the list of losers.
ABCTRANS had the highest volume contribution with 10.89 percent, while ACCESSCORP and OANDO followed closely behind.
According to the value chart, ACCESSCORP is at the top with a 13.45 percent contribution, while UBA and OANDO followed closely behind.