NGX Market Capitalisation Gain N101 Billion In Monday Trading Session

The Nigerian Stock Exchange (NGX) investors started the week positive as Monday's trading session led market capitalisation to gain N101 billion. Market capitalisation closed with N55.836 trillion—this win is coming despite investors' analysis showing that investors should expect a bearish run as investors seek protection for their portfolio.

The NGX All-Share Index increased by 0.18% to close at 102,042.32 points.

The NGX Market breadth, which measures investors' sentiment, also turned positive as 33 equities were gained while 23 were lost.

Top Gainers: Chams Holdings, NCR, and Royal Exchange led with 10% each to close at N2.75, N4.40, and N0.07 per unit.

Top Losers: John Holt led with a decline of 9.88% to close at N2.19; PZ Cusson followed with 9.87% to close at N27.85, and May&Baker declined by 9.80% to close at N6.36.

On the sectoral front, performance stayed relatively positive as three of the five sub-indices closed in the green zone.

NGX Insurance, NGX Consumer Goods and NGX Oil/Gas indexes gained 2.30%, 0.60%, and 0.15%, respectively.

Following the death of Access Holdings CEO Herbert Wigwe due to a helicopter crash in the United States of America on Friday, the stocks closed on a negative note as they declined by 6.26% to close at N23.20 per unit.

The shares of indigenous conglomerate Transcorp Plc and Zenith Bank Plc followed this.

The volume of traded equities was 242.43 million, compared to the previous day's volume of 321.89 million.

The value of stocks that were exchanged was N5.12bn in 8,715 deals.

The Banking and Industrial Goods sectors lost 0.88% and 0.07%, respectively.

Access Holdings, VeritasKap, and Guaranty Trust Holding Company Plc were the market's volume and value drivers.