Banking stocks helped the Nigerian stock market close higher on Monday.
The total market value rose by 0.44 percent to N140.44 trillion, up from N139.84 trillion. Investors made a gain of N609 billion.
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The All-Share Index also went up by 946.27 points, or 0.44 percent, to close at 218,113.84.
The market’s performance was driven mostly by strong showings from banking companies. The year-to-date return improved to 40.16 percent.
There were 36 gainers and 35 losers.
Top Gainers
· Nigerian Aviation Handling Company and Union Dicon Salt both gained 10 percent. They closed at N242 and N18.15 per share.
· Fidelity Bank rose by 9.98 percent to N22.05.
· Trans-Nationwide Express gained 9.92 percent to N6.65.
· Access Corporation went up by 9.87 percent to N32.85.
Top Losers
· Stanbic IBTC and Livingtrust Mortgage Bank each lost 10 percent, closing at N169.70 and N3.69.
· Transcorp Power fell by 9.97 percent to N272.70.
· Abbey Mortgage Bank dropped by 9.88 percent to N7.30.
· Guinea Insurance fell by 8.80 percent to N1.14.
Trading Activity
A total of 983.9 million shares worth N50.8 billion were traded in 76,410 deals. This was lower than the previous session, when 1.3 billion shares worth N54.4 billion were traded. Trading activity fell by 21.79 percent.
Most Traded Stocks
· Access Corporation had the highest trading volume, with 91.65 million shares. That was 9.31 percent of all shares traded.
· Zenith Bank had the highest value, with trades worth N7 billion. That was 13.80 percent of the day’s total value.