Equity market opens week positive, gains N404bn

Transactions on the floor of Nigerian Exchange (NGX) opened the week on a positive note, appreciating by N404 billion, as gain recorded in the shares of Dangote Sugar, Transnational Corporation of Nigeria, Transpower, Wapco and UBA boosted market activities.

Market capitalisation of listed equities  increased by 0.71 per cent to N57.697 trillion from N57.293 trillion recorded the previous day.

The NGX All Share Index also appreciated by 713.99 basis points to 102044.84 points from 101330.85 points reported on Friday.

As a result year to date return went higher to36.47 per cent as the Exchange printed 34 gainers against 16 losers.

An analysis of the Investment showed that Honey Well Flour and NEM Insurance led gainers table with 10 per cent each to close at N3.74 per cent and N6.05 per cent respectively

Dangote Sugar followed with a gain of 9.97 per cent to close at N61.20 per share, Nascon gained 9.92 per cent to close at N57.60 per share, Wema Bank added 9.79 per cent to close at N7.85 per share.

On the contrary, Prestige Insurance recorded the highest loss during the day ,declining by 10 per cent to close at N0.54 per unit. Lasaco Insurance trailed with a drop of 9.83 per cent to close at N2.11 per share, UACN fell by 9.68 per cent to close at N12.60 per unit, RT Briscoa, down by 8.16 per cent to close at N0.45 per share International Insurance dipped by 7.74 per cent to close at N1.55 per unit.