NSE: Bank stocks dominate trade as positive sentiment persists | Ripples Nigeria
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NSE: Bank stocks dominate trade as positive sentiment persists



The bull run in the Nigerian equities market continued Monday as market capitalisation crossed the N12 trillion mark even though the volume of trade remained low relative to pre-COVID-19 days.

Today’s positive performance hinged on bargain-hunting in large-cap and mid-cap stocks led by MTNN, Ardova, Dangote Sugar, UACN and Union Bank.

However, the market ended with a negative breadth, which saw 19 losers to emerge compared to 15 gainers. The All Share Index (ASI) inched up by 0.30% to 23,089.86 basis points. Market capitalisation went higher to N12.033 trillion, adding over N35.883 billion.

Year to date, the index is down by 13.98%.


Prestige Assurance topped the gainers’ chart today, appreciating by 10% to close at N0.55. Ardova gained 9.96% to end today’s trade at N12.70. Wapic went up by 7.69% to N0.28. Learn Africa leapt to N1.10, notching up 6.80% in the process. Mutual Benefit completed the top 5, climbing up by 5% to N0.21.


NEM Insurance led losers, declining by 15.74% to close at N1.98. WAPCO shed 12.78% to end today’s trade at N10.30. Neimeth fell to N0.54, losing 10%. Chams slumped to N0.21, recording 8.70% depreciation. Access closed at N6.10, going down by 7.58%.

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249.858 million shares estimated at N2.396 billion were traded today in 6,538 deals.

GTB led trade with 44.534 million units of its stocks worth N935.210 million traded in 546 deals. 40.714 million units of FBN Holdings shares priced at N187.414 million exchanged hands in 361 transactions. UBA had 24.753 million shares valued at N144.554 million traded in 401 deals. Zenith Bank traded 22.851 million shares estimated at N328.506 million in 550 transactions. Access Bank traded 14.508 million shares valued at N89.399 million in 398 deals.

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