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Equities investors were all smiles as the Nigerian Exchange Group Limited (NGX) witnessed a surge in market capitalization, soaring by N144 billion during Monday’s trading session.
Renewed bargain hunting and profit-taking activities contributed to the positive sentiments among investors as they eagerly await the outcome of the ongoing Monetary Policy Committee meeting of the Central Bank of Nigeria.
The All-Share Index at the NGX saw a notable appreciation, climbing by 264.89 basis points, representing a 0.42 per cent increase to close at 65,268.28 points, compared to the previous session’s 65,033.39 points.
The total market capitalization of listed equities closed at N35.539 trillion, registering an impressive gain of N144.23 billion from Friday’s N35.394 trillion.
During the trading session, 32 gainers and 33 decliners were recorded, showcasing a mixed market performance.
Notably, investors engaged in profit-taking activities that led to significant gains in the shares of FTN Cocoa Processors, GLAXOSIMTH, LASACO, and NASCON, with their respective prices closing at N2.20k, N8.25k, N1.76k, and N31.90k. STANBIC and SKYAVN followed closely, recording 9.97 per cent and 9.88 per cent gains on their share prices, respectively.
On the flip side, IKEJA Hotel took the lead among the decliners, suffering a 9.86 per cent loss on its share price to close at N3.93k. ABBEYBDS and THOMASWY followed with 9.82 per cent and 9.55 per cent losses on their share prices, respectively.
The market breadth remained positive as total deals and volume increased by 9.51 per cent and 7.88 per cent, totaling 9,768 and 831.5 million shares traded, respectively. However, the value of trades experienced a slight drop of 9.31 per cent to close at N35.54 billion.
FBN Holdings emerged as the most active stock of the day, with 346.99 million shares worth N7,436.78 million exchanged in 878 deals. UBA followed closely with 62.786 million shares worth N925.93 million traded in 710 deals.