FCMB opens week on high demand as Positive Sentiment Lifts market by N247.21bn

BY BONNY AMADI

The NGX Exchange commenced the new week Monday with high demand on FCMB. Japaul Gold shares and on a positive note, sustaining its upward momentum on Monday, with the All-Share Index advancing 0.26% to settle at 147,427.95 points, as market capitalization grew by N247.21 billion to N93.97 trillion.

Market sentiment was bullish, reflected in a breadth ratio of 2.7x, as 41 advancing stocks outweighed 15 declining counters. MORISON, NPFMCRFBK, SOVRENINS, CAVERTON, and CHAMS topped the gainers’ list, while DAARCOMM, LIVESTOCK, NAHCO, UNIONDICON, and JAIZBANK recorded the most significant losses.

Sectoral activity was predominantly bullish: Insurance dominated with a 1.83% increase, followed by Banking up 0.94%, Industrial Goods rising 0.28%, and Consumer Goods gaining 0.08%. Conversely, the Oil & Gas and Commodity sectors remained unchanged.

Trading metrics showed divergent patterns as share volume jumped 52.34% to 550.86 million units and the number of transactions climbed 42.94% to 30,090 deals, while transaction value dropped 6.60% to N13.86 billion.

Top five gainers

MORISON opened the week as the high- est gainer stock with N0.35 or 9.89 per cent appreciation, closing at N3.89, followed by NPFMCRFBK with N0.27 or 9.85 per cent growth, closing at N3.01 per share, while SOVRENINS gained N0.27 or 9.31 per cent to end third day at N3.17 per share.

CAVERTON grew by N0.45 or 9.18 per cent to N5.35 per share, while CHAMS closed the top five gainers group at N3.30 per share, following expansion by N0.24 or 7.84 per cent.

Worst five losers

DAARCOMM as the worst loser stock on Monday declined by N0.07 or 7.14 per cent to close at N0.91 per share followed by LIVE- STOCK with N0.40 or 6.25 per cent decline to close at N6.00 per share, while NAHCO lost N6.50 or 6.10 per cent to end the day at N100.00 per share.

UNIONDICON lost N0.30 or 4.78 per cent of its share price to end the session at N6.00, while JAIZBANK ended the worst five losers’ group at N4.50 per share, following depreciation by N0.15 or 3.43 per cent.

Top five trades

FCMB opened the week as the highest traded stock with turnover of 129,653,847.00 million shares worth N1,433,016,011.15 billion followed by JAPAULGOLD with 63,740,125.00 million shares worth N139,078,569.41 million, while ZE- NITHBANK closed third in the group with 41,989,261.00 million shares turnover worth an N2,709,838,132.60 billion.