BY BAMIDELE FAMOOFO
The market capitalization of the Nigerian Exchange Limited moved up by N9.34 billion at the close of trading on Monday.
The accretion in market capitalization was largely driven by gains recorded by blue-chip stocks led by FBN Holdings Plc , Zenith Bank Plc and WAPCO Plc.
All-Share Index closed 0.04 percent stronger to close at 48,899.08 points, the highest point since 04 October.
Figures released by the NGX Limited on Monday showed that the value of Zenith Bank’s share increased by 1.58 percent, WAPCO was up by 0.69 percent while FBN Holding Plc moved up by 1.85 percent, outweighing selloffs in Stanbic IBTC Bank Plc (-1.80%), Access Corporation Plc (-0.58%) and United Bank for Africa Plc (-1.35%).
Consequently, the year-to-date (YTD) return rose to 14.47 percent, while the market capitalization gained N9.34 billion to close at N26.63 trillion.
Analysis of Monday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 120.07 percent.
A total of 236.59 million units of shares valued at N2.52 billion were exchanged in 3,334 deals. ACCESSCORP (-0.58%), led the volume chart and value chart with 120.98 million units traded in deals worth N1.03 billion.
Market breadth closed negative at a 1.25-to-1 ratio with declining issues outnumbering advancing ones. NEIMETH (-8.57%) led nine (9) others on the laggard’s table, while LEARNAFRICA (+9.70%) topped seven (7) others on the gainer’s log.