Wahala no dey as Nigerian Exchange Limited don start new week with better vibes!
On Monday morning, e be like say investors wake up with ginger as dem push total market capitalisation up by N745bn. Na big plus for investor dem, as market capitalisation rise from N103.78tn wey dem record before to N104.52tn. E be like say everybody dey jolly jolly, All-Share Index join the party too, increase by 946.61 points which na 0.58 per cent; now e stand for 163,244.69 points.
Activity for the market dey carry better heat! Dem trade about 1.15bn shares, valued at N19.21bn inside 59,326 deals. This one na 84 per cent increase for trading volume, 4 per cent rise for turnover, and 35 per cent improvement for number of deals compared to last trading day. Na 128 stocks dey involve for this trading madness, and e be say 49 of dem rise while 20 fall. E clear say bullish spirit dey for dis market!
When we check gainers dem, E-Tranzact International be the king as dem share price jump by 10 per cent to close for N16.50. Red Star Express join am for top gainers, also gain 10 per cent settle for N11.55. McNichols follow backside with 10 per cent increase to end for N6.05. UPDC, RT Briscoe, and Deap Capital Management all join the 10 per cent club for their respective closing prices!
But no be all stocks dey smile, o! Champion Breweries suffer the highest decline, as dem drop 8.51 per cent to close for N15.05. Eunisell Interlinked follow with 8.01 per cent loss until N156.20. Even Ikeja Hotel, Guinea Insurance, Omatek Ventures, and Lasaco Assurance all see small loss for this trading session. E be like say dem no fit join the profit party!
Sovereign Trust Insurance carry the highest volume of shares traded, as 307 million units change hands like say na hot cake. Fidelity Bank dey shine bright for value level as dem trade shares worth N3.14bn. Aradel Holdings, Zenith Bank and others also dey waka for this money matter! Analysts talk say this positive performance no be by mistake, as people dey rush for bargain hunting, especially for banking and insurance sectors. Confidence don also shine following the market capitalisation dey above N100tn mark!
To wrap am up, NGX dey start the week like superstar as market capitalisation dey firmly above N104tn. E just dey show say Nigerian equities market still dey strong even though macroeconomic wahala dey everywhere. We dey hope say the buying interest go continue when corporate earnings dey come out soon!
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