National currency gains 0.06% to trade 414.80 N / $ 1


By Dipo Olowookere

Those who trade Nigerian stocks gained 22 billion naira on Monday despite the fact that the Nigerian Exchange (NGX) Limited registered weak trading.

The market appreciated by 0.10% in the first trading session of the new week thanks to the bargain hunt from investors, who selected stocks that could generate gains in the days, weeks and months to to come.

Due to buying interest, 21 stocks ended up on the winners chart while 11 stocks ended up on the losers table, indicating positive market width and investor sentiment.

Neimeth recorded the strongest price appreciation with 9.82% to sell for N 1.79, UPDC gained 9.43% to trade at N 1.16, Royal Exchange appreciated by 8, 70% for listing at 75kobo, mutual benefits improved 7.69% to 28kobo, while Regency Assurance increased 7.32% to 44kobo.

On the other hand, C&I Leasing lost 8.70% to close at 4.20 N, Consolidated Hallmark Insurance fell 6.90% to 54 kobo, Coronation Insurance fell 5.88% to 48 kobo, Lasaco Insurance lost 5.45% to sell to N1 .04, while NAHCO fell 3.48 percent to N3.33.

During the session, the transaction volume decreased 58.39 percent to 142.2 million shares from 341.7 million shares, the transaction value decreased 29.68 percent to 2, 5 billion naira from 3.5 billion naira, while the number of transactions jumped 22.56 percent to 3,749 bids from 3,059 bids.

FBN Holdings was the most traded stock on Monday selling 20.2 million units for N244.7 million, followed by GTCO with 10.6 million units valued at N 270.9 million.

Sovereign Trust Insurance traded 10.1 million shares for 2.4 million naira, Mutual Benefits traded 9.4 million shares for 2.6 million naira, while AIICO Insurance traded 8.8 million naira ‘shares worth 6.0 million naira.

Business post reports that three of the five main sectors of the stock market closed higher yesterday, with industrial, banking and consumer goods appreciating by 0.31%, 0.29% and 0.03% respectively, while the counters of insurance and energy lost 0.48% and 0.41% each.

When the market closed the day at 2:30 p.m. yesterday, the market capitalization rose by 22 billion naira to 22129 trillion naira from 22107 trillion naira, while the All-Share index (ASI) increased. increased by 41.40 points to 42,394.71 points. unlike 42,353.31 points from the previous session.

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