NGX Investors Gain N1.24 Trillion in Monday Trading Session

At the end of Monday's trading session, Nigerian Stock Exchange (NGX) investors recorded a gain of N1.24 trillion. Market capitalisation finished at N57.28 trillion, bringing the market gain towards the historic N60 trillion mark.

The All-Share Index increased by 2.22% to close at 104,674.67 points. The year-to-date gains also improved to 39.99%.

Market breadth, the measure of investors' sentiment, showed a negative trend compared to the previous day's market breadth, as reflected in 25 stocks gained and 39 stocks lost.

The market value of Dangote Cement rose by 9.93% to hit N13tn from N11.8tn at the close of trading on Friday. Also, Dangote Sugar Refinery Plc joined the ranks of companies worth N1tn as its share rose to N82.65.

Top Gainers: Oando led the gaining chart with 9.96% to close at N13.80, Dangote Cement followed with 9.93% to close at N763, and Tripple G added 9.89% to close at N3.11.

Top Losers: Daar Communications and Ikeja Hotel led the losing chart with 10% each to close at N0.81 and N6.75. Cadbury was followed by 9.80% to close at N20.70, and the NPF Microfinance Bank lost 8.88% to close at N1.95.

JapaulGold, Dangote Cement, Transcorp, United Bank for Africa, Zenith Bank, and Guaranty Trust Holding Company Plc led the volume and value drivers of the day's market trend.

The transaction volume at the close of trading stood at 683.93 million, higher than the 519.39 million traded the previous day. The value of trade was N25.93bn from the 15,887 deals executed.

Analysts have projected that the bullish run in the market will be sustained in the new week as the market eagerly awaits more corporate earnings releases.

However, there may be a possibility of profit-taking as investors engage in sectoral rotation, capitalising on stocks that experience pullbacks to position themselves strategically.