Nigerian equities opened the week on a positive note, extending gains from the previous session as the All-Share Index (ASI) rose 0.20 per cent stronger to close at 52,319.94 points, the highest point since June 16, 2021.
The market’s performance was primarily driven by gains in Seplat (+10.00 per cebt). In addition, investors taking position in banking names, GTCO (+1.91 per cent), FBNH (+0.92 per cent) and UBA (+0.68 per cent) outweighed selloffs in NB (-5.10 per cent), MTNN (-0.13 per cent) and Zenith Bank (-0.90 per cent).
Consequently, the year-to-date (YTD) return rose to 22.48 per cent while the market capitalization gained N56.53bn to close at N28.21trillion.
Analysis of Monday’s trading session showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 16.09 per cent. A total of 116.28m units of shares valued at N3.46 billion were exchanged in 4,525 deals.
UBA (+0.68 per cent), led the volume chart with 12.93 million units traded, while Seplat (+10.00 per cent) led the value chart in deals worth N1.33 billion.