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Nigerian equity market gains 0.89%

Joseph Oyekanmi

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NGX Regulation Publishes 2021 Supervision Priorities for Trading License Holders 

BUACEMENT, STANBIC, INTBREW and 23 other gainers spurred the Nigerian equity market to rally on Monday after ending last week on a declining note.

The All-Share Index increased by 340.48 absolute points or 0.89% to close at 38,722.87 points, year-to-date loss moderated to -3.8% and market capitalisation gained ₦178.1billion to close ₦20.3trillion.

The volume and value equities which investors exchanged dropped 4.6% and 24.0% respectively to 277.2million units and ₦3.1billion with the most traded stocks by volume were UBN (79.9m units), GUARANTY (36.1m units) and FBNH (33.3m units) and while GUARANTY (₦1.1bn), ZENITH (₦562.5m) and UBN (₦423.4m) topped by value.

The Industrial Goods sector was the most bullish, appreciating 2.1%, driven BUACEMENT (+5.1%) as the Insurance and Consumer Goods sectors rose 0.4% and 0.3% respectively on the back of gains in MANSARD (+1.0%), LASACO (+3.3%), INTBREW (+5.9%) and VITAFOAM (+3.9%).

However, sell-offs in UBA (-3.5%) dragged the Banking sector down 0.01%, while the AFR-ICT index closed flat.

JBERGER (+10.0%), STANBIC (+10.0%) and UACN (+6.7%) were the top gainers while CHAMPION (-8.2%), JAIZBANK (-4.5%) and JAPAULGOLD (-4.1%) were the top decliners.

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