Lagos, Nigeria: Nigeria’s equities market kicked off the week with a bullish charge, gaining ₦786 billion in value as investor appetite surged for top-performing stocks.
Heavyweights like Seplat Energy and AXA Mansard Insurance soared 10%, propelling the All-Share Index up by 1,238.74 points to 144,822.78. With 49 gainers outpacing 23 losers, the rally was broad-based, signalling renewed confidence across sectors.
The market capitalisation increased by N786 billion, or 0.86 per cent, rising from N91,135 trillion at the opening to N91.921 trillion at the close.
Similarly, the All-Share Index (ASI) advanced by 0.86 per cent, gaining 1,238.74 points to close at 144,822.78 compared to 143,584.04 reported on Friday.
Also, the market breadth closed positive with 49 gainers and 23 losers.
On the gainers’ table, Seplat Energy and AXA Mansard Insurance led by 10 per cent each, closing at N5,917.20 and N15.84 per share, respectively.
Skye Shelter Fund increased by 9.97 per cent, settling at N381.10, Ellah Lakes grew by 9.95 per cent, ending the session at N14.81, and CHAMS rose by 9.87 per cent, finishing at N4.23 per share.
Conversely, International Energy Insurance led the losers’ table by 8.42 per cent, closing at N2.72. Mc Nicholas trailed by 8.31 per cent, settling at N3.20, and Thomas Wyatt Nigeria dipped by 7.72 per cent, closing at N2.99 per share.
Also, Berger Paints declined by 6.80 per cent, ending the session at N37, while ABC Transport dropped by 5.81 per cent, closing at N4.05 per share.
An assessment of market activity revealed an improvement in deal volume, accompanied by a decline in market value.
A total of 519.92 million shares, valued at N14.55 billion, were traded across 35,490 transactions, compared to 544.7 million shares worth N19.63 billion that were traded across 27,065 transactions earlier on Friday.
Meanwhile, transactions in the shares of Ellah Lakes topped the activity chart with 80.1 million shares valued at N1.18 billion.
CHAMS followed with 30.2 million shares worth N127.26 million, while Sterling Nigeria traded 24.7 million shares valued at N205.65 million.
Custodian Investment transacted 21.8 million shares worth N903.74 million, and Guaranty Trust Holding Company sold 20.06 million shares valued at N1.97 million.
