The Nigerian equities market kicked off the new trading week on a bullish note. On Monday, investors gained N413bn, driven by price appreciation in blue-chip stocks such as Beta Glass, Cadbury, and Multiverse.
At the close of trading, the All-Share Index rose by 655.93 points, or 0.62 per cent, to close at 106,698.50 points, while market capitalisation increased to N67.1tn from N66.7tn on Friday.
The bullish sentiment was broad-based, with 127 listed equities participating in the day’s session. A total of 35 stocks recorded price appreciation while 29 declined.
Beta Glass led the gainers’ chart with a 9.97 per cent increase to close at N120.75 per share. The Initiates Plc followed closely with a 9.90 per cent gain, closing at N5.44, while Cadbury Nigeria added 9.87 per cent to close at N35.05. Caverton rose by 9.77 per cent to N2.92, and Multiverse advanced by 9.45 per cent to close at N6.95.
On the losers’ table, Meyer Plc recorded the highest decline, shedding 9.73 per cent to close at N8.35. Ecobank Transnational followed with a 9.62 per cent dip to N23.50, while Custodian Investment dropped 4.72 per cent to close at N17.15. Mutual Benefits Assurance and Access Holdings also declined by 4.49 per cent and 3.88 per cent, respectively.
Trading activity improved significantly as investors exchanged 569.04 million shares valued at N18.93bn in 18,612 deals. This represents a 37 per cent increase in turnover compared to the previous trading session.
First Bank of Nigeria Holdings recorded the highest volume of shares traded with 106 million units, followed by Guaranty Trust Holding Company with 87.2 million units, Access Holdings with 42.9 million units, and Japaul Gold and Ventures with 41.3 million units.
The sectoral performance showed strong interest in key indices. The Consumer Goods Index rose by 2.9 per cent; Insurance Index, 2.69 per cent; Oil & Gas Index, 2.58 per cent; Main Board Index, 0.89 per cent; and Pension Index, 0.27 per cent.
On a weekly basis, the All-Share Index posted a gain of 0.89 per cent, 1.12 per cent in four weeks, and 3.66 per cent year-to-date, signalling improved investor sentiment.
Media reported that trading activities on the Nigerian Exchange Limited ended on a positive note last week, as the equity market gained N182bn amid performance from financial services stocks.
