Lagos: Investors pocketed N905 billion on Monday. Sustained demand for large and mid-cap stocks powered the market’s rally into the new week.
Market capitalisation, measuring the total value of all listed stocks, rose by 0.57 per cent to close at N160.982 trillion. It increased from N160.077 trillion on Friday.
The All-Share Index, which tracks the general performance of listed stocks, rose by 1,412.65 points or 0.57 per cent. It moved from 249,712.37 to 251,125.02.
This rally stemmed from investors’ continued interest in key stocks. These included Airtel Africa, International Energy Insurance, Sovereign Trust Insurance, Caverton Offshore Support Group, VFD Group, and 30 other appreciating equities.
The Year-to-Date (YTD) return shows how much the market has gained since the start of the year. It increased to 61.38 per cent, indicating persistent gains in the market.
Market breadth closed positively. Airtel Africa led the gainers’ chart with a 10 per cent rise, closing at N3,655.70. International Energy Insurance followed with a 9.68 per cent gain, closing at N3.74. Sovereign Trust Insurance gained 9.65 per cent to settle at N2.50 per share.
Caverton Offshore Support Group gained 9.63 per cent to close at N7.40. On the losers’ chart, McNichols led with a 10 per cent decline to close at N7.20. The Initiates followed, losing 9.91 per cent and closing at N30.45. Learn Africa shed 9.69 per cent to close at N11.65 per share.
Zichis Agro Allied Industries dropped 7.93 per cent to settle at N30.98. After falling by 6.60 per cent, May & Baker closed at N46.70 per share.
At the close of trading, total volume traded fell 11.58 per cent to 629.42 million shares, signalling a decline in market activity.
In total, 82,434 transactions were recorded, totalling N40.91 billion in share exchanges.
Access Corporation topped the volume chart with 61.29 million shares, accounting for 9.74 per cent of the day’s total traded volume.
Aradel led the value chart, with transactions worth N11.99 billion and accounting for 29.30 per cent of the day’s total traded value.
