The Nigerian Exchange Ltd. (NGX) kicked off the trading week on a positive note, witnessing a robust surge in the All-Share Index by 1.92%, equivalent to 1,597.93 points. The All-Share Index closed at 84,640.89, a notable rise from Friday’s figure of 83,042.96. Investors reaped gains as the market capitalization increased by 1.92% to reach N46.316 trillion, compared to the previous N45.442 trillion.

This positive momentum contributed to a Year-To-Date (YTD) return of 13.20%. The market breadth reflected favorable conditions, with 46 equities advancing and 19 declining.

The uptrend was fueled by increased buying interest in industrial stocks, including Dangote Cement, BUA Cement, and Zenith Bank. Trading activity saw 807.51 million shares valued at N11.03 billion exchanged in 13,647 deals. This marked an uptick from the previous session, where 600.63 million shares valued at N9.10 billion were traded in 11,697 deals.

Transcorp led the volume chart with 66.89 million shares worth N956 million, followed by AIICO Insurance with 62.29 million shares valued at N789.89 million. Wema Bank recorded sales of 41.57 million shares at N387.92 million, Jaiz Bank transacted 39.19 million shares worth N128.01 million, and First City Monument Bank (FCMB) traded 38.14 million shares valued at N423.12 million.

On the gainers’ side, Chams, Axa Mansard, PZ, Tantalizer, and Daar Communications led with a percentage increase of 10 each, closing at N2.53, N6.49, N32.45, 55k, and 99k per share, respectively.

In contrast, Abbey Mortgage Bank Plc led the losers with a 9.52% decrease, closing at N2.47 per share, followed by Julius Berger, which lost 3.54% to close at N54.50 per share. Custodian Insurance trailed with a 3.45% decline to close at N9.80 per share, while Africa Prudential Plc shed 2.78% to close at N8.75 per share. FBN Holdings also recorded a 1.79% loss, closing at N27.50 per share.

Despite a positive market breadth with 66 advancing equities outnumbering eight declining ones, trade turnover settled lower compared to the previous session, with the value of transactions decreasing by 36.88%. (NAN)

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