The first trading session in the Christmas week at the Nigerian Exchange (NGX) Limited was bullish as the market closed 0.20 per cent higher on Monday.
The interest in consumer goods and banking counters contributed yesterday to the stock market’s gains.
It was the fourth straight trading session Nigerian stocks were closing positive at the bourse, as investors are buying equities expected to improve in value ahead of the Yuletide sales.
According to the analysis, the consumer goods sector increased by 1%, the banking index increased by 0.12%, the insurance sector decreased by 0.05%, the energy counter decreased by 0.01 percent, and the industrial goods segment closed flat.
The All-Share Index (ASI) increased by 98.67 points at the close of business to 49,414.96 points from 49,316.29 points, while market capitalisation increased by N54 billion to N26.915 trillion from N26.861 trillion.
Thomas Wyatt closed the trading day as the best-performing stock as it rose by 8.77 per cent to 62 Kobo, International Breweries improved by 5.81 per cent to N4.55, Pharma-Deko grew by 5.00 per cent to N2.10, Living Trust Mortgage Bank rose by 4.90 per cent to N1.50. Caverton increased by 3.45 per cent to 90 Kobo.
PZ Cussons, on the other hand, finished the day as the worst-performing stock, falling 7.26 percent to N11.50, Chams fell 4.35 percent to 22 Kobo, UPDC REIT fell 3.33 percent to N2.90, FTN Cocoa fell 3.23 percent to 30 Kobo, and Africa Prudential fell 2.73 percent to N5.35.
According to Entrepreneurng, the NGX closed the trading session on Monday with 14 price gainers and 10 price losers, indicating a positive market breadth and strong investor sentiment.
However, investors traded 76.7 million stocks worth N1.3 billion in 3,260 deals yesterday, compared to 103.7 million stocks worth N2.0 billion traded in 3,280 deals the previous session, representing a decline in trading volume, value, and a number of deals of 26.04 percent, 35.00 percent, and 0.61 percent, respectively.
GTCO was the most active stock on Monday, trading at 16.6 million units. UBA exchanged 7.6 million shares, Chams sold 4.2 million shares, Consolidated Hallmark Insurance exchanged 4.0 million shares, and Zenith Bank exchanged 3.8 million shares.
