NGX: Equities market begins week on positive note as investors gain N28bn

Trading activities got off to a positive note in the equities market on Monday, May 20, 2024 as investors gained N28.61 billion at the end of trading exercise.

This follows an increase in the value of stocks like Berger Paints, Regal Insurance and WAPIC amongst others.

Similarly, the NGX-All-Share Index ASI increased to 98,176.58 from 98,125.73 at the close of the previous trading day.

After five hours of trading at the capital market, the equity capitalization increased to N55.536 trillion from N55.508 trillion posted by the bourse on Friday last week.

The market breadth was negative 12 stocks advanced, 28 stocks declined, while 79 stocks remained unchanged in 8,439 deals.

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Berger Paints, Regal Insurance, and WAPIC led other gainers with 9.72%, 9.68% and 6.15% growth each to close at N13.55, N0.34, and N0.69 from their previous prices of N12.35, N0.31, and N0.65 respectively.

On the flip side, Champion, CI Leasing and Sovereign Insurance led other price decliners as it shed 10%, 9.80% and 9.76% each to close at N2.97, N3.13 and N0.37 from the initial prices of N3.30, N3.47 and N0.41% respectively.

On the volume index, ACCESSCORP traded 201.311 million units of its shares in 710 deals, valued at N3.405bn followed by TRANSCORP which traded 39.209 million units of its shares in 454 deals, valued at N435m and ZENITH BANK which traded 15.263 million units of its shares in 690 deals, valued at N484m.

On the value index, ACCESSCORP recorded the highest value for the day trading stocks worth N3.405bn in 710 deal followed by ZENITH BANK which traded equities worth N484m in 690 deals and MTNN which traded stocks worth N476m in 370 deals.

Babajide Okeowo

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