Investors record N260bn gains in equities market as index moves up by 0.93%

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BY BAMIDELE FAMOOFO

Uba Group

Investors in the Nigerian stock market on Monday opened the week on a positive note with N260.37 billion capital gains recorded on their investments.

No doubt, the year is looking good so far as the year to date return increased to 0.88 percent at the end of trading activities on January 9, 2023.

The Lagos bourse opened the week positive today as the benchmark index advanced by 0.93 percent to close at 51,700.36 points as market capitalization closed at N28.16 trillion.

Sustained interest in Airtel Africa Plc which recorded a gain of (+5.16%) in its share value alongside NB (+1.91%) and FBN Holdings Plc (+0.45%) contributed to keeping the market in the green, offsetting losses in Zenith Bank Plc (-0.61%), GTCO (-1.25%) and Stanbic IBTC Bank Plc (-4.33%).

Analysis of Monday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 60.96 percent. A total of 229.22 million shares valued at N2.91 billion were exchanged in 3,900 deals. Sterling Bank Plc (+0.00%) led the volume chart with 85.18 million units traded while AIRTELAFRI (+5.16%) led the value chart in deals worth N1.03 billion.

Market breadth closed negative at a 1.25-to-1 ratio with declining issues outnumbering advancing ones. UBN (-8.63%) led fourteen (14) others on the laggard’s log, while AIRTELAFRI (+5.16%) topped eleven (11) others on the gainer’s table.