Conoil, NGX Group, Oando Lift Stock Market With N147bn Gain

The Nigerian stock market opened the week on a positive note on Monday, with investors gaining N147 billion as market capitalisation climbed to N126.583 trillion.

The gain was driven by sustained demand for stocks such as: Conoil, Legend Internet Omatek, NGX Group, Oando, alongside 22 other advancers.

Market capitalisation, which opened at N126.436 trillion, rose by 0.12 per cent, or N147 billion, to close at N126.583 trillion.

The All-Share Index gained 228.83 points, closing at 197,196.98 compared with 196,968.15 recorded at the previous session’s close.

This led to an increase of the Year-To-Date (YTD) return which improved to 26.72 per cent.

However, in spite of the positive rally, the market breadth closed negative with 43 losers and 27 gainers.

Aluminium Extrusion Industries led the losers’ chart by 10 per cent, finishing at N13.95, SCOA trailed by 9.90 per cent, settling at N30.95, while RT Briscoe lost by 9.87 per cent, closing at N10.87 per share.

Similarly, Sunu Assurances went down by 9.81 per cent, ending the session at N4.32 and Union Dicon Salt dropped by 9.76 per cent, closing at N14.80 per share.

Conversely, Conoil, Legend Internet and Omatek led the gainers’ table by 10 per cent each, ending the session at N185.90, N7.04 and N2.42 per share respectively.

NGX Group increased by 9.97 per cent, settling at N166 and Oando gained by 9.96 per cent, finishing at N54.65 per share.

Market activity was up for the day, with total volume traded up 30.09 per cent to 762.53 million, valued at N31.23 billion across 86,488.

Fortis Global Insurance recorded the highest volume with 127.46 million shares traded, accounting for 16.71 per cent of the day’s total volume.

Aradel recorded the highest value at N5.07 billion, accounting for 16.24 per cent of value traded for the day. (NAN)