Investors transact 601.6m shares worth N17.3bn

Stock market investors traded 601.65 million shares worth N17.3 billion in 58,429 transactions on the Nigerian Exchange Limited on Monday.

This compares with 731.7 million shares valued at N19.05 billion exchanged in 44,005 deals in the previous trading session.

The figures represent an 18 per cent decline in trading volume and a nine per cent drop in value, while the number of deals increased by 33 per cent.

Meanwhile, Chams recorded the highest volume, with 41.57 million shares, accounting for 6.91 per cent of the total volume traded for the day.

Guaranty Trust Holding Company recorded the highest value traded at N3.11 billion, accounting for 17.97 per cent of the total value traded for the day.

The stock market opened the week on a positive note as investors recorded a N3 billion gain.

Gains in NPF Microfinance Bank, Morison, Union Homes Real Estate Investment, Deap Capital Management, Zichis Agro Allied Industries and 30 other stocks pushed the market into positive territory

The All-Share Index also increased by 5.38 points, settling at 165,517.56, compared with 165,512.18 recorded previously.

However, the market breadth closed negative, with 36 losers and 35 gainers.

May & Baker led the losers’ table, shedding 10 per cent to close at N39.15. Neimeth International Pharmaceuticals followed with a decline of 9.81 per cent to close at N11.95, while ABC Transport fell by 9.33 per cent to close at N5.15 per share.

Also, Computer Warehouse Group declined by 9.05 per cent to close at N22.10, while Sovereign Trust Insurance dropped by 8.97 per cent to end the session at N3.45 per share.

On the gainers’ table, NPF Microfinance Bank led with a 10 per cent increase to close at N5.61. Morison followed with a gain of 9.97 per cent to close at N8.27, while Union Homes Real Estate Investment gained 9.95 per cent to close at N78.45 per share.

Similarly, Deap Capital Management grew by 9.94 per cent to close at N7.85, while Zichis Agro Allied Industries rose by 9.92 per cent to close at N2.88 per share.