 started the week on a positive note, with total market capitalisation rising by N745bn to N104.52tn.){kind=link}
Nigerian Stocks Open Higher, Add N745bn in Market Cap
The Nigerian Exchange Limited (NGX) started the week on a positive note, with total market capitalisation rising by N745bn to N104.52tn.
The All-Share Index gained 946.61 points, or 0.58%, to close at 163,244.69 points.
Market activity improved, with 1.15bn shares traded in 59,326 deals, worth N19.21bn. Forty-nine stocks closed higher, while twenty ended lower.
E-Tranzact International topped gainers, rising 10% to N16.50. Others include Red Star Express (N11.55), McNichols (N6.05), and UPDC (N5.50).
Champion Breweries led losers, shedding 8.51% to N15.05. Eunisell Interlinked and Ikeja Hotel also declined.
Sovereign Trust Insurance recorded the highest traded volume (307m shares), followed by Fidelity Bank (158m shares).
Analysts attribute the gain to bargain hunting in banking and insurance stocks, and improved confidence.
The NGX’s strong start reinforces its position as one of the region’s best-performing markets.