The Nigerian equity market on Monday extended gains as the market capitalisation closed N81 billion stronger on buying interests in MTN Nigeria and 15 others.
The All Share Index (ASI) grew by 154.65 points or 0.29 per cent to close at 53,157.83 from the N54, 213.09 recorded on Friday.
Specifucally, investors gained N81 billion in value as market capitalisation went up to N29.609 trillion compared with N29.528 trillion Friday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; MTNN, Nigerian Exchange Group, Industrial & Medical Gases Nigeria, United Capital, Lafarge Africa and Oando.
As measured by market breadth, market sentiment was mixed, as an equal number of stocks (16) gained and lost.
Sovereign Trust Insurance recorded the highest price gain of 10 per cent to close at 33k, per share.
Linkage Assurance followed with a gain 8.89 per cent to close at 49k, while International Energy Insurance rose by 8.08 per cent to close at N1.07, per share.
Industrial & Medical Gases Nigeria went up by 4.55 per cent to close at N8.05, while Courteville Business Solutions appreciated by 4.08 per cent to close at 51k, per share.
On the other hand, McNichols Plc led the losers’ chart by 8.96 per cent to close at 61k, while Prestige Assurance followed with a decline of 8.70 per cent to close at 42k, per share.
FTN Cocoa processors lost 6.06 per cent to close at 31k, while SUNU Assurance and Japaul Gold & Ventures shed 5.88 per cent each to close at 32k each respectively, per share.
The total volume traded declined by 28.5 per cent to 191.636 million units, valued at N4.799 billion, and exchanged in 4,359 deals.
Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 50.585 million shares valued at N1.271 billion.
Zenith Bank followed with 18.017 million shares worth N452.440 million, while Chams Holding Company traded 16.628 million shares valued at N4.451 million.
United Bank for Africa (UBA) traded 14.935 million shares valued at N125.390 million, while Transnational Corporation of Nigeria (Transcorp) transacted 14.171 million shares worth N18.790 million.
