The Nigerian stock market began the trading week on a positive note, with a notable increase in market capitalization by N52.17bn. By the close of Monday’s trading session, the All Share Index had risen by 83.31 points, reaching 106,621.91 points, reflecting a 3.59% year-to-date gain. The total market capitalization reached N66.8 trillion, signaling a strong start to the week for investors.
Market activity was also heightened, with turnover showing significant improvement. Investors exchanged 364.97 million shares across 14,565 deals, valued at N17.63bn. This represented a 5% increase in volume, an 81% improvement in turnover, and a 22% rise in the number of deals compared to the previous Friday’s session, indicating a boost in market participation.
Among the top gainers, Eterna Plc led with a 9.96% increase, closing at N37.55 per share. Other notable gainers included Transcorp, which rose by 9.91% to N51.55, and FCMB Group, which gained 9.89%, closing at N10.00 per share. Other stocks like Africa Prudential, ABC Transport, and Dangote Sugar also saw significant gains, demonstrating a broad-based rally among several sectors.
On the flip side, the losers’ chart saw some notable declines. VFD Group recorded the worst drop, shedding 9.92%, followed by International Energy Insurance and Cadbury Nigeria, which lost 8.72% and 8% respectively. Fidelity Bank dominated in trading volume with 56.4 million shares changing hands, while sectoral performance was mixed, with some indices like the Top 30 and Consumer Goods indices showing gains, while the Premium Index saw a slight decline.
SOURCE: PUNCH