NGX Rebounds with 0.14% Gain on Blue-chip Stocks
Nigerian Exchange (NGX) experienced a surge in securities trading as the market opened with a 0.14% gain on Monday.
The All-Share Index rose by 76.36 points to 55,605.57, while market capitalization increased by N42 billion to N30.291 trillion. The upswing was driven by gains made by blue-chip stocks such as MTN Nigeria, WAPCO, UBA, Unity Bank, Julius Berger, and International Energy Insurance.
The market breadth was negative as 16 stocks gained, and 20 stocks declined. Despite a tepid trading day marked by profit-taking in the banking sector, analysts expect mixed sectorial performances on Tuesday.
Trading volume declined by 33% to 125.55 million shares, worth N2.48 billion traded in 4,076 deals. Transcorps, Guaranty Trust Holding Company (GTCo), and UBA were the most active stocks.
Share Your Thoughts