The Nigerian stock market started the week on a strong note, adding N279 billion to its market value on Monday. The market capitalisation rose by 0.37 percent, closing at N74.812 trillion, up from N74.533 trillion recorded at the previous session.
Similarly, the All-Share Index gained 441.43 points to end at 118,579.65, reflecting renewed investor interest in key sectors.
Market sentiment was positive, with 46 stocks posting gains against 22 that declined. Leading the charge was Beta Glass, which appreciated by 10 percent to N303.60. Champion Breweries, FTN Cocoa Processors, Neimeth International Pharmaceuticals, and Presco Plc also recorded 10 percent gains each, pushing their share prices to N9.02, N3.08, N4.07, and N1,210 respectively.
On the other hand, some companies came under selling pressure. Julius Berger suffered the biggest loss of the day, dropping 7.48 percent to N117.50. Chams Holding slipped 5.09 percent to N2.05, while Secure Electronic Technology and Multiverse Mining shed five percent and 4.66 percent to close at 57k and N9.20 respectively. Red Star Express also declined, falling 3.85 percent to N7.50.
The session saw heightened trading activity with 653.66 million shares worth N21.33 billion exchanged across 22,206 deals. This marked an increase from Friday’s turnover of 522.81 million shares valued at N19.68 billion in 17,706 transactions, indicating robust participation from market players.
Fidelity Bank dominated trading volumes, accounting for 141.71 million shares valued at N2.66 billion. Zenith Bank followed with 46.26 million shares worth N2.35 billion. Nigerian Breweries recorded trades of 38.09 million shares at a value of N2.21 billion, while FTN Cocoa Processors and Access Corporation also featured prominently on the activity chart.
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