Business and Economy

Stock market continues upward climb with 2.22% (N1.24 trillion) gain on Monday

The Nigerian stock market benchmark index started the week strong, closing 2.22% higher at 104,674.67 points. As a result, market capitalization increased by ₦1.24trn to end at ₦57.28trn, and the year-to-date (YTD) return increased to 39.99%. The market was positively impacted by persistent buying activity in industrial giants DANGCEM (+9.93%), BUACEMENT (+2.98%), and INTBREW (+8.49%), which outweighed selloffs in ZENITHBANK (-2.33%), GTCO (-0.46%), and UBA (-1.64%).

Trade turnover settled at a greater level than it did last friday with a 193.06% increase in transaction value. 15,887 transactions totaling 689.93 million shares, valued at ₦25.94 billion, were completed. With 83.86 million units traded, JAPAULGOLD (+3.90%) topped the volume chart, while DANGCEM (+9.93%) topped the value table with ₦8.58 billion in deals. OANDO (+9.96%) led twenty(20) others in the leader’s log, while IKEJAHOTEL (-10.00%) topped thirty-six (36) others on the laggard’s table.

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