Lagos: The Nigerian stock market opened bullish on Monday, leading to N279 billion gains for investors and sustaining the previous week’s gain.
The positive performance was driven by increased investors’ interest in large-capitalised stocks like Beta Glass, Champion Breweries, FTN Cocoa Processors, and 43 others.
Specifically, the market capitalisation, which opened at N74.533 trillion, added 279 billion, or 0.37 per cent, to close at N74.812 trillion.
The All-Share Index also gained 0.37 per cent, or 441.43 points, to settle at 118,579.65, up from 118,138.22 recorded on Friday.
Meanwhile, the market breadth also closed positive, with 46 gainers and 22 losers.
Beta Glass led the gainers’ chart, increasing by 10 per cent to N303.60, while Champion Breweries also rose by 10 per cent to N9.02 per share.
FTN Cocoa Processors soared by 10 per cent, ending the session at N3.08, and Neimeth International Pharmaceutical gained by 10 per cent, closing at N4.07 per share.
Also, Presco Plc climbed by 10 per cent, settling at N1,210 per share.
On the other hand, Julius Berger fell by 7.48 per cent, closing at N117.50, while Chams Holding dropped by 5.09 per cent, settling at N2.05 per share.
Secure Electronic Technology declined by five per cent, finishing at 57k, and Multiverse Mining shed by 4.66 per cent, ending the session at N9.20 per share.
Similarly, Red Star Express lost by 3.85 per cent, closing at N7.50 per share. 653.66 million shares worth N21.33 billion were exchanged across 22,206 transactions.
This is compared to 522.81 million shares worth N19.68 billion traded across 17,706 deals.
Transactions in the shares of Fidelity Bank topped the activity chart with 141.71 million shares worth N2.66 billion.
Zenith Bank followed with 46.26 million shares valued at N2.35 billion, while Nigerian Breweries transacted 38.09 million shares worth N2.21 billion.
FTN Cocoa Processors traded 37.98 million shares valued at N115.90 million, while Access Corporation sold 37.93 million shares worth N843.74 million.
