The local equity market on Monday opened week in a positive note, appreciating by N987 billion as gain recorded by some highly capitalised stocks lifted market activities during the day.
Market capitalisation of listed equities increased by 1.59 per cent to N62.899 trillion from N61.912 trillion it closed last week Friday.
The NGX All Share Index also appreciated by 1016.05 basis points to 103149.35 points from 102133.30 points reported the previous day.
The positive performance of the market was driven by gains in the shares of MTN Nigeria, Bua Foods, Fidson health care, Guinness Nigeria Plc, Mecure, United Capital , Prestige Insurance, Lasaco Insurance and other 31 firms.
As a result year to date return went up to 37.95 per cent at 21 companies took negative direction against 39 firms that closed in green.
A review of the investment showed that three companies , Mecure, Prestige insurance and Neimeth international Pharmaceutical led gainers table with 10 per cent each to close at N12.65 , N1.10 and N2.09 per share respectively. Lasaco Insurance followed with a gain of 9.96 per cent to close at N3.09 per unit, Living Trust Insurance added 9.92 per cent to close at N3.99 per unit.
On the contrary, PZ Cusson topped losers chart during the day, depreciating by 10 per cent to close at N26.10 per unit, Vitafoam Nigeria Plc trailed with a loss of 9.62 per cent to close at N21.60 per unit, NGX group down by 9.17 per cent to close at N27.25 per share Ikeja Hotel dipped by 7.41 per cent to close at N11.25 per unit, Eterna Plc fell by 5.26 per cent to close at N27.00 per unit
Volume of trades increased by 189.384 million, representing 41.92 per cent as investors traded 617.86 million shares valued at N15.496 billion in 13778 deals against 451.732 million shares worth N17.487 billion in 12551 deals.
Transactions in the shares of Universal insurance led market activities with 71.510 million shares valued at N41.737 million, GTCO Plc followed with 54.676 million shares worth N3.114 billion, AccessCorp exchanged 46.567 million shares cost N1.118 billion, C &I Leasing traded 32.324 million shares valued at N1.177 billion while Linkage Insurance sold a total of 25.209 million shares worth N27.735 million.
Local equity opens on positive note, gains N987bn
