11th March, 2024
By Rukayat Adeyemi
The Nigerian stock market on Monday extended its positive momentum, gaining 0.7 per cent, due to investors’ interest in Guaranty Trust Holding Company(GTCO), Zenith Bank and 32 other stocks.
Specifically, the market capitalisation which opened at N57.293 trillion, gained N404 billion or 0.7 per cent to close at N57.697 trillion.
Consequently, the All-Share index closed 0.7 per cent or 714 points stronger to close at 102,044.84, as against 101,330.85 recorded on Friday.
Other top gainers that further improved the market’s performance were Transcorp Power (TransPower),Wema Bank, Honeywell, among others.
As a result, the Year-To-Date (YTD) return rose to 36.47 per cent.
Meanwhile, market breadth closed positive with 34 stocks gained relative to 16 losers.
On the gainer’s table, Honeywell Flour and NEM Insurance led in percentage terms of 10 each to close at N3.74 and N6.05 per share, respectively.
Dangote Sugar followed by 9.97 per cent to close at N61.20, while National Salt Company of Nigeria(NASCON) gained 9.92 per cent to close at N57.60 per share.
Also, Wema Bank added 9.79 per cent to close at N7.85 per share.
On the other hand, Prestige Assurance Company led the loser’s table by 10 per cent to close at 54k per share.
LASACO Assurance lost 9.83 per cent to close at N2.11 per share, while UACN of Nigeria Plc shed 9.68 per cent to close at N12.60 per share.
RT Briscoe dropped 8.16 per cent to close at 45k, while International Energy Insurance(IEI) dropped by 7.74 per cent to close at N1.55 per share.
However, market activities indicated trade turnover decreased in relative to the previous session.
A total of N17.09 billion shares were exchanged in 11,344 deals, compared to 358.12 million shares valued at N19.88 billion in 10,786 deals on Friday.
Meanwhile, GTCO led the activity log in volume with 96.63 million shares traded in value of N4.02 billion, Transcorp followed by 73.86 million shares worth N1.23 billion.
Access Corporation (AccessCorp) sold 48.09 million shares valued at N988.35 million, while United Bank of Africa (UBA) traded 21.58 million shares worth N497.31 million.
NASCON transacted 19.57 million shares worth N1.13 billion.