Business and Economy

The Nigerian stock market gains 0.83% (N368.31 billion) on Monday

The Nigerian stock market started the week with a gain of 0.83% as the All Share Index closed at 80,324.53 points. As a result, the year-to-date return increased to 7.42%, and the market capitalization rose by ₦368.31bn to reach ₦43.96trn.

The market was buoyed by buying interest in Tier-1 banks such as ZENITHBANK (+2.50%), GTCO (+3.53%), and UBA (+3.28%), which offset the selling pressure on STANBIC (-0.38%), NB (-0.13%), and FIDELITYBK (-5.99%).

Trade turnover was higher compared to Friday session with the value of transactions increasing by 6.48%. A total of 1.19bn shares, valued at ₦15.26bn, were exchanged in 16,081 deals. TRANSCORP (+9.79%) emerged as the most traded stock in terms of volume and value, with 298.30m units traded worth ₦4.08bn. JBERGER (+10.00%) stood out among the top performers, while DARRCOMM (-9.30%) led the laggards.

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