Banking stocks lift NGX Market Cap to N140.44tn as investors gain N60bn

Banking stocks drove a affirmative adjacent connected the Nigerian Exchange connected Monday, pushing full marketplace capitalization up by 0.44 percent to N140.44 trillion from N139.84 trillion, arsenic investors recorded a summation of N609 billion.

The All-Share Index besides roseate by 946.27 points, representing a 0.44 percent increase, to adjacent astatine 218,113.84, up from 217,167.57 recorded successful the erstwhile session.

Market enactment was mostly propelled by beardown performances successful banking equities, which importantly influenced the wide upward trend.

The year-to-date instrumentality improved further to 40.16 percent, portion marketplace breadth closed affirmative with 36 gainers against 35 losers.

On the gainers’ chart, Nigerian Aviation Handling Company and Union Dicon Salt led with 10 percent gains each, closing astatine N242 and N18.15 per share, respectively. Fidelity Bank roseate by 9.98 percent to N22.05, Trans-Nationwide Express gained 9.92 percent to adjacent astatine N6.65, portion Access Corporation precocious by 9.87 percent to N32.85 per share.

On the flip side, Stanbic IBTC and Livingtrust Mortgage Bank topped the losers’ table, shedding 10 percent each to adjacent astatine N169.70 and N3.69, respectively. Transcorp Power declined by 9.97 percent to N272.70, Abbey Mortgage Bank dropped by 9.88 percent to N7.30, and Guinea Insurance fell by 8.80 percent to N1.14 per share.

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