Business and Economy

Nigerian stock market begins the week positive with 1.92% gain on Monday

The Nigerian stock market started the week positive with the All-Share Index gaining 1.92% to close at 84,640.89 points. As a result, the year-to-date return increased to 13.20%, and the market capitalization rose by ₦874.41bn to reach ₦46.32trn.

The market was buoyed by strong buying interest in major industrial players such as DANGCEM (+7.14%), BUACEMENT (+0.59%), and ZENITHBANK (+3.60%), which offset the selling pressure on FBNH (-1.79%), UCAP (-0.39%), and JBERGER (-3.54%).

Trade turnover was also higher compared to the results of Friday’s session with transaction value increasing by 21.25%. A total of 807.51bn shares, valued at ₦11.03bn, were exchanged in 13,647 deals. TRANSCORP (+4.69%) topped the volume chart with 66.89m units traded, while NASCON (+8.33%) led the value chart with deals worth ₦1.09bn. PZ (+10.00%) emerged as the top gainer among 65 others on the leader’s table, while ABBEYBDS (-9.52%) led seven others on the laggard’s log.

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