Nigeria’s equities market opened the new week on a positive note as investors booked about N35 billion gain at the close of trading on Monday, October 24.
The market defied some analysts’ expectations of continuing bearish sentiment as investors take advantage of rising interest rates in the fixed-income market.
The record gain was caused among others by stocks like Beta Glass which topped other advancers after its share price increased from N41.50 to N43.95, adding N2.45 or 5.90percent.
It was followed by Lafarge Africa which increased from N21.95 to N22.55, after adding 60kobo or 2.73percent; and Ardova which rose from N13.70 to N14, up by 30kobo or 2.19percent. RedStar also rallied from N2.19 to N2.37, up by 18kobo or 8.22percent. Unilever topped decliners after its share price decreased from N12 to N10.80, losing N1.20 or 10percent.
Read also: Nigeria’s equities return fails to beat inflation
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation increased from preceding day’s 44,396.73 points and N24.182 trillion respectively to 44,461.63 points and N24.217 trillion. The market’s positive return year-to-date (YtD) increased to 4.09percent.
Transcorp, NGX Group, GTCO, Sovereign Trust Insurance and Fidelity Bank were top-5 traded stocks on the Nigerian Exchange where in 2,887 deals, equity traders exchanged 72,327,997 shares valued at N2.168billion.
