Stock market opens bullish with N318 billion gain
The Nigerian stock market opened the week on a bullish note on Tuesday, gaining N318 billion on the Nigerian Exchange Ltd after the two-day Easter break.
Market capitalisation rose by N318 billion or 0.49 per cent, closing at N65.817 trillion compared with Thursday’s figure of N65.499 trillion.
Similarly, the All-Share Index (ASI) climbed 505.80 points or 0.49 per cent, reaching 104,739.61 from 104,233.81 recorded earlier.
The upward trend was driven by strong buying interest in medium and large-cap stocks, including International Breweries, Nigerian Breweries and The Initiates Plc.
Market breadth closed positive, with 41 gainers compared to 20 losers, reflecting widespread investor optimism.
International Breweries led the gainers’ chart, rising by 10 per cent to close at N6.05 per share. Nigerian Breweries followed, appreciating by 9.94 per cent to settle at N39.80 per share.
The Initiates Plc gained 9.89 per cent, ending the day at N5.00, while Japaul Gold rose 9.79 per cent to close at N2.13. Cornerstone Insurance also advanced by 9.65 per cent, closing at N2.84 per share.
On the flip side, International Energy Insurance dropped 9.46 per cent, closing at N1.34 per share.
Secure Electronic Technology declined 8.93 per cent, ending the session at 51k per share.
University Press fell by 8.82 per cent to close at N3.10, while FTN Cocoa Processors shed 7.41 per cent to N1.75. WAPIC Insurance lost 5.50 per cent, finishing the day at N2.06 per share.
A total of 353.28 million shares worth N7.195 billion were traded in 13,734 transactions. This contrasts with Thursday’s 376.29 million shares worth N7.905 billion exchanged in 11,204 deals.
Access Corporation led the activity chart with 38.614 million shares traded, worth N875.16 million.
Fidelity Bank followed with 34.589 million shares valued at N651.85 million.
Chams Holding Plc recorded 29.697 million shares exchanged, worth N63.571 million.
Universal Insurance transacted 27.798 million shares valued at N14.095 million.
Zenith Bank traded 23.734 million shares, amounting to N1.073 billion.
(NAN)
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