The Nigerian stock market recorded a significant gain of N279 billion on Monday, driven by 46 investors who positively influenced market performance.
Market capitalization, which opened at N74.533 trillion, increased by 0.37 percent to close at N74.812 trillion. Similarly, the All-Share Index gained 0.37 percent or 441.43 points, settling at 118,579.65 compared to Friday's close of 118,138.22.
The day's trading showed a positive market breadth with 46 gainers outpacing 22 losers.
Top Gainers and Losers
Beta Glass led the gainers' table with a 10 percent increase, closing at N303.60 per share. Other top performers included Champion Breweries (10 percent to N9.02), FTN Cocoa Processors (10 percent to N3.08), Neimeth International Pharmaceuticals (10 percent to N4.07), and Presco Plc (10 percent to N1,210).
On the losing side, Julius Berger experienced the steepest decline, falling by 7.48 percent to close at N117.50. Chams Holding dropped by 5.09 percent to N2.05, while Secure Electronic Technology, Multiverse Mining, and Red Star Express declined by 5 percent, 4.66 percent, and 3.85 percent respectively.
Trading Volume and Activity
Trading activity saw a significant increase with 653.66 million shares worth N21.33 billion exchanged across 22,206 transactions. This represents an improvement from the previous trading day when 522.81 million shares valued at N19.68 billion changed hands across 17,706 deals.
Fidelity Bank dominated the activity chart with 141.71 million shares worth N2.66 billion. Other active stocks included Zenith Bank (46.26 million shares valued at N2.35 billion), Nigerian Breweries (38.09 million shares worth N2.21 billion), FTN Cocoa Processors (37.98 million shares valued at N115.90 million), and Access Corporation (37.93 million shares worth N843.74 million).
This positive market performance reflects growing investor confidence in the Nigerian stock market despite ongoing economic challenges.
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