The Nigerian stock market opened bullish on Monday, resulting in a gain of ₦152 billion for investors thus extending the previous week’s four-day rally.
The uptrend was driven by increased investor interest in stocks such as Cutix, International Energy Insurance, TIP, Caverton Offshore Support, and 37 others.
Specifically, market capitalisation opened at ₦83.241 trillion and added ₦152 billion or 0.18 per cent to close at ₦83.393 trillion.
The All-Share Index rose by 0.18 per cent or 241.11 points, closing at 131,826.77 from 131,585.66 on Friday.
However, market breadth closed negative, with 41 stocks declining and only 31 advancing.
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Meyer topped the losers’ chart, shedding 10 per cent to close at ₦18.90 per share.
McNicholas followed, dropping by 9.95 per cent to finish at ₦3.44 per share.
Thomas Wyatt Nigeria lost 9.84 per cent to end at ₦3.39, while Deap Capital shed 9.77 per cent to close at ₦1.20.
Sovereign Trust Insurance also declined, losing 9.63 per cent to settle at ₦1.22 per share.
Cutix led the gainers’ table, rising by 10 per cent to close at ₦4.07 per share.
International Energy Insurance also advanced by 10 per cent, finishing at ₦2.20 per share.
NCR Nigeria gained 10 per cent, closing at ₦7.26, while The Initiates Plc rose by 9.97 per cent to ₦11.03.
Caverton Offshore Support advanced by 9.75 per cent to settle at ₦7.09 per share.
Overall, 706.04 million shares worth ₦21.56 billion were traded in 30,750 transactions.
This compares to 3.35 billion shares worth ₦62.39 billion exchanged in 28,593 deals on Friday.
Access Corporation led activity with 61.73 million shares traded, worth ₦1.64 billion.
Consolidated Hallmark Holdings followed, trading 43.98 million shares valued at ₦133.78 million.
CHAMS sold 38.66 million shares, amounting to ₦118.43 million in value.
United Bank for Africa transacted 32.89 million shares worth ₦1.50 billion.
Zenith Bank traded 24.60 million shares, valued at ₦1.73 billion.
NAN
