Nigerian equities crawled up by only 0.02 per cent on Monday even when the size of trade surpassed that of the previous session by 35 per cent, a week after firms reported dominantly impressive earnings.
The slight rise rested on gains by Access Bank – Nigeria’s biggest bank by asset – United Capital and UAC Property, but support also came from a number of financial services shares on the exchange.
“In the coming trading session, we expect to see profit-taking activities dominating the market in the absence of any positive catalyst,” said brokerage firm Afrinvest.
Market breadth closed on a positive note, pitting 27 gainers against 16 laggards.
The benchmark index added 8 basis points as it increased to 38,220.01, while market capitalisation inched up to N19.923 trillion
Since the turn of the year, the index has slipped by 5.09 per cent.
TOP FIVE GAINERS
Cutix led gainers, leaping 10 per cent to N10. NCR closed at N2.49 after gaining 9.69 per cent. Regal Insurance rose by 9.52 per cent to N0.46. UACN Property climbed to N0.94, notching up 9.30 per cent in the process. Wapic Insurance traded up 9.26 per cent to close at N0.59.
TOP FIVE LOSERS
Red Star Express led losers, declining by 9.81 per cent to N3.31. ABC Transport contracted by 8.11 per cent to end trade at N0.34. NPF Microfinance Bank tumbled to N1.60, losing 6.98 per cent. Presco dipped to N70, recording 6.04 per cent loss. Chams closed at N0.20, going down by 4.76 per cent.
TOP FIVE TRADES
In all, 282.625 million shares worth N1.869 billion were traded in 4,788 transactions.
Fidelity was the most preferred stock, transacting 28.094 million shares of N64.532 million in 151 deals. Wema Bank saw 19.638 million shares, priced at N14.419 million exchange hands in 144 transactions.
Universal Insurance traded 18.025 million shares valued at N3.605 million in 35 deals. FCMB traded 14.823 million shares estimated at N45.859 million in 70 transactions. Sovereign Trust traded 14.409 million shares valued at N3.894 million in 12 deals.
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