Lagos: The Nigerian stock market kicked off the week on a bullish run Monday, with investors raking in ₦745 billion as market capitalisation climbed to ₦104.5 trillion.
The rally was fuelled by strong demand for equities including Etranzact, Red Star Express, McNicholas, RT Briscoe, and Deap Capital Management, alongside 45 other advancers.
Market capitalisation, which opened at ₦103.78 trillion, rose by 0.58 per cent to close at ₦104.52 trillion.
The All‑Share Index gained 946.61 points, finishing at 163,244.69 compared with 162,298.08 at the previous close.
Market breadth was positive, with 50 gainers outpacing 20 losers, underscoring broad investor confidence.
Etranzact, Red Star Express, McNicholas, RT Briscoe, and Deap Capital Management led the charge, each soaring 10 per cent to close at ₦16.50, ₦11.55, ₦6.05, ₦3.96, and ₦3.30 per share, respectively.
On the flip side, Champion Breweries shed 8.51 per cent to ₦15.05, while Eunisell Interlinked fell 8.01 per cent to ₦156.20.
Ikeja Hotel dropped eight per cent to ₦36.80, Guinea Insurance lost 7.30 per cent to ₦1.27, and Omatek slipped 3.13 per cent to ₦1.24.
Trading activity surged, with 1.15 billion shares worth ₦19.23 billion exchanged in 59,359 deals, compared with 624.08 million shares valued at ₦18.5 billion in 43,816 transactions the previous session.
Sovereign Trust Insurance dominated volume with 307.47 million shares, representing 26.75 per cent of total trades, while Fidelity Bank led in value terms at ₦3.14 billion, accounting for 16.32 per cent of turnover.
Analysts said the rally reflected renewed investor confidence, driven by bargain hunting and expectations of stronger corporate earnings.
