MON, MAR 11 2024-theGBJournal| The Nigerian stock market closed higher Monday, starting the new week on a positive note following demand for ZENITHBANK (+6.5%) and DANGSUGAR (+10.0%) stocks.
The All-share Index notched higher by 0.7% to close at 102,044.84 points with most sectors ending in positive. Similarly, all other indexes closed higher with market capitalization gaining by N403.69 billion to close at N57.70 trillion.
Month-to-Date and Year-to-Date returns also advanced to +2.1% and +36.5%, respectively.
The total volume of trades increased by 27.7% to 436.90 million units, valued at NGN17.10 billion, and exchanged in 11,344 deals. GTCO was the most traded stock by volume at 96.63 million units, while TRANSPOWER was the most traded stock by value at NGN5.93 billion.
Performance across the sectors was mostly positive, following gains in the Banking (+2.0%), Insurance (+1.4%), Consumer Goods (+1.1%) and Industrial Goods (+0.1%) indices. Meanwhile, the Oil & Gas (-0.2%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (2.1x), as 34 tickers gained relative to 16 losers. HONYFLOUR (+10.0%) and NEM (+10.0%) topped the gainers’ list, while PRESTIGE (-10.0%) and LASACO (-9.8%) recorded the highest losses of the day.
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