Stocks Kick Off Week Strong, Investors Gain N285bn

The Nigerian equities market opened the week bullish on Monday, as renewed buying interest in Julius Berger, Cutix, Veritas Kapital and 36 others lifted market performance by 0.31 per cent.

Market capitalisation rose by N285 billion to close at N89.493 trillion, while the All-Share Index gained 435.63 points to settle at 141,439.77.

Market breadth was positive, with 40 gainers against 17 losers.

Julius Berger led the gainers’ chart, appreciating by 9.93 per cent to N146.10, while Cutix rose 9.86 per cent to N3.90. Regency Alliance, Veritas Kapital and MC Nicholas also recorded strong gains. Conversely, University Press, Cadbury Nigeria and Abbey Mortgage Bank topped the losers’ table.

Trading volume and value dipped compared with Friday’s session. Investors exchanged 591.2 million shares worth N11.7 billion across 33,342 deals, down from 1.3 billion shares valued at N47.8 billion in 25,916 deals previously.

FCMB led the activity chart with 105.13 million shares worth N1.14 billion, followed by Veritas Kapital, Universal Insurance, AIICO Insurance and GTCO.