Nigerian Stock Market Gains N804bn as NGX warns investors

The Nigerian equities marketplace opened the week connected a bullish enactment connected Monday, signaling an N804 cardinal summation successful investors’ wealth.

Market capitalization connected the Nigerian Exchange Limited (NGX) roseate from N125.164 trillion astatine the commencement of trading to N125.968 trillion astatine the close, representing an summation of N804 billion, oregon 0.64 percent.

In the aforesaid vein, the All-Share Index precocious by 1,273.79 points, oregon 0.64 percent, to settee astatine 196,263.56, compared to 194,989.77 posted connected Friday. The improvement further strengthened the market’s year-to-date instrumentality to 26.12 percent.

Market breadth closed flat, with 35 gainers and 35 losers.

On the gainers’ chart, Okomu Oil and Fortis Global Insurance led with 10 percent gains each, closing astatine N1,605.60 and 66k, respectively. FG20203356, Fidson, and NPF Microfinance Bank besides posted gains during the session.

Conversely, the Initiates topped the losers’ array with a 10 percent diminution to adjacent astatine N17.55. Other decliners included Deap Capital Management, Multiverse Mining, Livingtrust Mortgage Bank, and Ellah Lakes.

Trading enactment improved significantly, arsenic a full of 1.3 cardinal shares valued astatine N31.5 cardinal were exchanged successful 95,091 deals.

This compared with 820.5 cardinal shares worthy N28.3 cardinal traded successful 63,507 transactions connected Friday, indicating a 57 percent summation successful volume, an 11 percent emergence successful value, and 50 perce...